3558 Main StWeirton, WV 26062

Property Details for 3558 Main St

Lot size

0.21 AC

Property type

Retail properties

Property subtype

Grocery and convenience stores

APN

15-06-W42S-0318.0000

APU

1506W42S03180000

Description

This exceptional investment opportunity presents a 13,500-square-foot, single-tenant retail property located at 3558 Main St, Weirton, WV 26062. The property, built in 1970 and extensively renovated in 2023, boasts a prime location with approximately 20,000 vehicles passing daily. Currently occupied by Dollar Tree under a 10-year net lease (NN+) agreement commencing October 31, 2023, and expiring October 31, 2033, with four 5-year renewal options. The lease includes 5% rent bumps every five years, starting in year 11. The property features 50 parking spaces and sits on a 51,400-square-foot lot, zoned C-3 Mixed Commercial/Professional High Density. The asking price is $1,654,200, representing a 7.50% cap rate and a price per square foot of $122.53. The property's strong NOI of $124,065 reflects the stability of the Dollar Tree tenant, backed by a corporate guarantee from a $33.6B company. The property benefits from its proximity to US-22, WV Route 2, and the Ohio River scenic byway, serving a dense population of over 24,000 within a 3-mile radius. Furthermore, significant local economic development, including a $150 million investment by Cleveland-Cliffs, promises continued growth in the area. The property is surrounded by a variety of national and local retailers, further enhancing its visibility and appeal. This is a rare opportunity to acquire a high-performing, net-leased retail asset with significant upside potential.

• CAP approach

  CAP return

  Valuation

  6%

  $2,520,796

  6.5%

  $2,326,888

  7%

  $2,160,682

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,125,494

  Geo Method

  $2,125,494

• Alternative Use

  Use

  Valuation

  Residential

  $1,962,818

  Hospitality

  $1,797,930

  Educational

  $1,495,857

  Medical

  $1,547,302

  Retail

  $2,326,888

Location Insight

City

Weirton

County

Hancock

State

West Virginia

Latitude

40.3991

Longitude

-80.5906

CBSA code

48260

CBSA name

WEIRTON-STEUBENVILLE, WV-OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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