1847 Boydton Plank RdPetersburg, VA 23805

Property Details for 1847 Boydton Plank Rd

Year built

2020

Lot size

0.95 AC

Property size (Sq ft)

9,403 SF

Zone code

B-2

Property type

Retail space

APN

51070805

APU

51070805

Description

This exceptional investment opportunity presents a single-tenant, net-leased Family Dollar store located at 1847 Boydton Plank Rd, Petersburg, VA 23805, within the Richmond MSA. Built in 2021 on a 0.95-acre lot, this property boasts a 6.5-year remaining lease term (expiring 01/31/2031, commencing 02/01/2021) with six, five-year options, each including a 5% rent increase. The property generates a strong net operating income (NOI) of $129,792, yielding a compelling 7.85% cap rate at an asking price of $1,653,401. The tenant, Family Dollar (a subsidiary of Dollar Tree), is an investment-grade credit tenant with a corporate guarantee, providing significant financial stability. The store benefits from a prime location with high visibility, situated off I-85, experiencing approximately 58,000 vehicles per day, and serving a 5-mile population exceeding 48,090 residents with an average household income exceeding $77,593. The property features the newest Family Dollar interior model, enhancing perishable goods offerings. A roof warranty extends through March 2030. This is a rare opportunity to acquire a well-performing, low-risk retail investment with substantial upside potential.

• CAP approach

  CAP return

  Valuation

  6%

  $2,564,526

  6.5%

  $2,367,254

  7%

  $2,198,165

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,659,375

  Geo Method

  $3,957,396

• Alternative Use

  Use

  Valuation

  Residential

  $1,996,868

  Hospitality

  $1,829,120

  Educational

  $1,521,806

  Medical

  $1,574,144

  Retail

  $2,367,254

Location Insight

City

Petersburg

County

Petersburg City

State

Virginia

Latitude

37.2021

Longitude

-77.4255

CBSA code

40060

CBSA name

RICHMOND, VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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