1005 Bill Tuck HwySouth Boston, VA 24592

Property Details for 1005 Bill Tuck Hwy

Lot size

0.67 AC

Property size (Sq ft)

2,965 SF

Property type

Office properties

APN

17115

APU

17115

Description

This exceptional investment opportunity presents a fee-simple, 3,472 square-foot Burger King restaurant situated on a 1.09-acre lot at 1005 Bill Tuck Hwy, South Boston, Virginia 24592. Built in 1992, the property boasts a strong 100% occupancy rate under a 20-year triple-net (NNN) lease with Carrols Restaurant Group, a major US franchisee. The lease commenced September 25, 2015, and has approximately 10.9 years remaining, with four additional five-year renewal options. The current annual rent is $113,533, with a 2% annual increase built into the lease. The property offers a compelling 6.50% cap rate and a price per square foot of $503.07, making it an attractive addition to any portfolio. The property's strong tenant, long-term lease, and built-in rent escalations provide a stable and predictable income stream. This is a truly passive investment opportunity with zero landlord responsibilities. The property's location in South Boston, Virginia, offers excellent visibility and accessibility. The asking price is $1,746,661, representing a significant return on investment. This is a rare opportunity to acquire a high-performing, established quick-service restaurant property with a proven track record.

• CAP approach

  CAP return

  Valuation

  6%

  $443,195

  6.5%

  $409,103

  7%

  $379,881

• Comparable approach

  Method

  Valuation

  Relative Method

  $680,586

  Geo Method

  $680,586

• Alternative Use

  Use

  Valuation

  Residential

  $507,288

  Hospitality

  $464,673

  Educational

  $386,602

  Medical

  $399,898

  Retail

  $601,381

Location Insight

City

South Boston

County

Halifax

State

Virginia

Latitude

36.6879

Longitude

-78.8996

Property Tax & Assessments

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