GPM Investments - Glade Spring, VA
4,931 SF | Retail Building | Glade Spring, VA 24340 | $5,050,000 ($1,024/SF) | 6% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $5,050,000
- Property Type
-
Retail
- Square Feet
- 4,931 SF
- Price / Square Foot
- $1,024
Listing Contacts
Patrick Nutt
Verified Profile
William Wamble
Verified Profile
Andrew Fallon
Verified Profile
Philip Wellde
Verified Profile
- Property Info
Property Overview
• The lease features a corporate guaranty by GPM Investments, a reputable brand with 3,200+ units nationwide and S&P B+ credit score
• 13+ years of lease term remaining on the original 15-year base term
• 10% rental increases every five years
• No landlord responsibilities
• Ideal, management-free investment for a passive investor
• Tenant pays for CAM, taxes, insurance and maintains all aspects of the premises
• The subject property is directly off the Interstate 81 exit ramp, generating more than 38,000 vehicles per day on average
• The asset is strategically positioned at the hard corner of Glove Drive and Maple Street which provide on and off access to Interstate 81
• The corner location provides one access point off Glove Drive and three separate access points off Maple Street
• The average household income exceeds $79,600 in a 3-mile radius
• 13+ years of lease term remaining on the original 15-year base term
• 10% rental increases every five years
• No landlord responsibilities
• Ideal, management-free investment for a passive investor
• Tenant pays for CAM, taxes, insurance and maintains all aspects of the premises
• The subject property is directly off the Interstate 81 exit ramp, generating more than 38,000 vehicles per day on average
• The asset is strategically positioned at the hard corner of Glove Drive and Maple Street which provide on and off access to Interstate 81
• The corner location provides one access point off Glove Drive and three separate access points off Maple Street
• The average household income exceeds $79,600 in a 3-mile radius
Property Details
- Class
- C
- Year Built
- 2005
- Stories
- 1
- Property Subtype
- Service, Grocery/Convenience Store, Drug Store
- Lot Size (sq. ft)
- 66,211 SF
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