3028 Scenic HwyMount Solon, VA 22843

Property Details for 3028 Scenic Hwy

Year built

1930

Lot size

0.74 AC

Property size (Sq ft)

5,483 SF

Zone code

GENERAL AGRICULTURE

Property type

Retail properties

Property subtype

Retail space

APN

017 15F

APU

01715F

Description

This exceptional investment opportunity features a portfolio of eight convenience stores and gas stations in prime Virginia locations. The portfolio boasts a total of 23,837 square feet and is currently operating at 100% occupancy. Each location benefits from high visibility and accessibility, situated along major thoroughfares or in areas with significant tourist traffic. Several locations are near popular recreational destinations, ensuring a consistent customer base. The portfolio is master-leased to a strong, long-term operator, providing a stable income stream with built-in 2% annual rent increases. This presents a rare opportunity for both investors seeking a high-yield asset and owner-operators looking to expand their market share in a thriving sector. The portfolio includes locations in Mount Solon, Skipwith, Red Oak, Alton, Millboro, Brookneal, and two in Nathalie, Virginia, each strategically positioned for optimal business performance. Existing infrastructure and ample parking accommodate various business needs and potential expansion opportunities. This is a turnkey operation with established management in place, allowing for remote operational oversight. The current contracts for COAM (game machines) and Jobber (gas) are in place. This portfolio offers a unique blend of stability, growth potential, and a strong return on investment.

• CAP approach

  CAP return

  Valuation

  6%

  $1,918,365

  6.5%

  $1,770,798

  7%

  $1,644,313

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,762,603

  Geo Method

  $2,762,603

• Alternative Use

  Use

  Valuation

  Residential

  $1,493,735

  Hospitality

  $1,368,253

  Educational

  $1,138,370

  Medical

  $1,177,521

  Retail

  $1,770,798

Location Insight

City

Mount Solon

County

Augusta

State

Virginia

Latitude

38.3148

Longitude

-79.0959

CBSA code

44420

CBSA name

STAUNTON-WAYNESBORO, VA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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