12319 Maple StGlade Spring, VA 24340

Property Details for 12319 Maple St

Year built

2005

Lot size

0.64 AC

Property size (Sq ft)

3,848 SF

Zone code

B2 BUSINESS GENERAL

Property type

Other commercial real estate

APN

070A 6 1A

APU

070A61A

Description

This exceptional investment opportunity presents a fee-simple owned, 4,931 square-foot convenience store and gas station located at 12319 Maple St, Glade Spring, VA 24340. The property boasts a highly visible hard-corner location with multiple points of access directly off Interstate 81, experiencing over 38,000 vehicles daily. Built in 2005 on a 1.36-acre lot, this asset is under a 15-year absolute NNN lease (commencing May 1, 2022, and expiring April 30, 2037), with 12.4 years remaining. The lease includes four 5-year renewal options and 10% rent bumps every five years. The tenant, GPM Investments, LLC (S&P: B+, NASDAQ: ARKO), is credit-rated and provides a corporate guarantee, ensuring consistent income. The property generates a strong NOI of $302,952, resulting in a 6.00% cap rate. The average household income within a 3-mile radius exceeds $79,600, indicating a robust consumer base. This is a management-free investment, with the tenant responsible for all CAM, taxes, and insurance, making it an ideal passive income opportunity. The property enjoys 100% occupancy. This is a turnkey investment with significant upside potential.

• Alternative Use

  Use

  Valuation

  Residential

  $483,223

  Hospitality

  $442,630

  Educational

  $368,263

  Medical

  $380,928

  Retail

  $572,853

Location Insight

City

Glade Spring

County

Washington

State

Virginia

Latitude

36.7732

Longitude

-81.7804

CBSA code

28700

CBSA name

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

Property Tax & Assessments

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