18377 Westinghouse RdAbingdon, VA 24210

Property Details for 18377 Westinghouse Rd

Year built

2002

Lot size

7.50 AC

Property size (Sq ft)

12,800 SF

Zone code

M1 INDUSTRIAL LIMITED

Property type

Other commercial real estate

APN

123 19 3

APU

123193

Description

This exceptional investment opportunity presents a 15,650-square-foot flex building situated on a 7.49-acre lot at 18377 Westinghouse Rd, Abingdon, VA 24210. The property boasts a strong 8.72% cap rate, generating a net operating income (NOI) of $130,800. Currently 100% occupied by two non-retail and specialty pharmacy tenants, the building offers a diverse income stream. The primary tenant, occupying approximately 85% of the space, has enjoyed a long-term presence since 2007. Both tenants are secured by five-year leases with renewal options; three three-year options and three five-year options are available. The building features 12,000 square feet of main-level space with 18-foot ceilings, complemented by 1,300 square feet of mezzanine space and 3,650 square feet of second-floor office and flex space. Ample parking is provided with 60 spaces. The property is zoned M-1 and was constructed in 2002. Its convenient location between Abingdon and Bristol, Virginia, offers easy access to Interstate 81. The asking price is $1,500,000, translating to a price per square foot of $95.85. This multi-tenant property, owned by an LLC, presents a compelling investment opportunity with significant upside potential. The property's strong tenancy, favorable lease terms, and strategic location make it an attractive addition to any portfolio.

Location Insight

City

Abingdon

County

Washington

State

Virginia

Latitude

36.6844

Longitude

-82.0539

CBSA code

28700

CBSA name

KINGSPORT-BRISTOL-BRISTOL, TN-VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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