969 Valley StScottsville, VA 24590
- Retail properties
- 9,240 SF
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
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
Comparable in this City
Similar Nearby for Sale
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