969 Valley StScottsville, VA 24590

  • Retail properties
  • 9,240 SF
For Sale
$1,591,225 View listing

Property Details for 969 Valley St

Year built
2014
Lot size
0.74 AC
Property size (Sq ft)
9,240 SF
Zone code
TOWN OF SCOTTSVILLE
Property type
Retail properties
Property subtype
Retail space
APN
130A1-00-00-02700
APU
130A1000002700

Description

This fee-simple retail property in Scottsville, Virginia, offers a compelling investment opportunity. The 9,002 square-foot building, constructed in 2014, is currently 100% occupied by a Dollar General under a triple-net (NNN) lease with a corporate guarantee. The lease commenced August 12, 2014, and has a remaining term of approximately 4.8 years, with five, five-year renewal options, each including a 10% rent increase. The property boasts a strong cap rate of 7.10% and a net operating income (NOI) of $112,977. Situated on a 1.02-acre lot at 969 Valley Street, the property benefits from a high-traffic location with nearby tenants including Food Lion, Ace Hardware, Subway, Rite Aid, and others. The asking price is $1,591,225, translating to $176.76 per square foot. This upgraded construction Dollar General offers a stable, long-term investment with significant upside potential. The property's strong tenant, favorable lease terms, and prime location make it an attractive addition to any portfolio. The property is zoned for commercial use.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $3,232,846
    6.5%
    $2,984,165
    7%
    $2,771,010
  • Comparable approach

    Method
    Valuation
    Relative Method
    $4,655,563
    Geo Method
    $4,655,563
  • Alternative Use

    Use
    Valuation
    Residential
    $2,517,255
    Hospitality
    $2,305,792
    Educational
    $1,918,392
    Medical
    $1,984,368
    Retail
    $2,984,165
969 Valley St, Scottsville, Virginia

Location Insight

City
Scottsville
County
Albemarle
State
Virginia
Latitude
37.8059
Longitude
-78.4992
CBSA code
16820
CBSA name
CHARLOTTESVILLE, VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$9,683
$337,500
$796,300
$1,133,800
-
$337,500
$796,300
$1,133,800

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