127 Cook StAbingdon, VA 24210

Property Details for 127 Cook St

Year built

2024

Lot size

1.45 AC

Property size (Sq ft)

6,262 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

Exceptional investment opportunity: a brand-new, 6,262 square foot Firestone Auto Shop in Abingdon, VA, is available for purchase. This property boasts a 15-year absolute NNN lease commencing October 31, 2024, and expiring November 29, 2039, with a strong 5.20% cap rate and a net operating income (NOI) of $239,027. The lease is guaranteed by Bridgestone, a globally recognized "A"-rated investment-grade tenant, providing exceptional financial security. Situated on a 1.45-acre lot, this location benefits from its proximity to Interstate 81 (52,000 vehicles per day), a major north-south freight corridor. The property is an outparcel to a top-performing Food City, part of a larger, recently developed retail complex that includes significant road improvements and created numerous jobs. Furthermore, its adjacency to the new Meadows Sports Complex, a state-of-the-art 34-acre facility, ensures high visibility and consistent traffic. The Firestone features seven service bays and benefits from built-in rental increases of 5% every five years throughout the lease term and five subsequent 5-year option periods. This is a rare opportunity to acquire a high-performing asset with a secure, long-term lease in a prime location. The property was built in 2024 and has 100% occupancy.

Location Insight

City

Abingdon

County

Washington

State

Virginia

Latitude

36.7039

Longitude

-81.9687

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