GPM Investments - Glade Spring, VA 12319 Maple St 4,931 SF Retail Building Glade Spring, VA 24340 $5,050,000 ($1,024.13/SF) 6% Cap Rate
INVESTMENT HIGHLIGHTS
- Directly off the Interstate 81 exit ramp, generating more than 38,000 vehicles per day on average
- Corner location provides one access point off Glove Drive and three separate access points off Maple Street
EXECUTIVE SUMMARY
This investment opportunity is backed by a corporate guaranty from GPM Investments, a reputable brand with over 3,200 units nationwide and an S&P B+ credit score. The lease has more than 13 years remaining on the original 15-year term, with 10% rental increases every five years. It offers a management-free experience for the landlord, as the tenant is responsible for CAM, taxes, insurance, and maintenance. The asset is strategically located at the hard corner of Glove Drive and Maple Street, providing easy access to Interstate 81. Additionally, the average household income in the surrounding 3-mile radius exceeds $79,600, making it an ideal, passive investment.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
4,931 SF
Building Class
C
Year Built
2005
Price
$5,050,000
Price Per SF
$1,024.13
Cap Rate
6%
NOI
$302,952
Tenancy
Single
Building Height
1 Story
Building FAR
0.07
Lot Size
1.52 AC
AMENITIES
- Air Conditioning
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $313,400 | |
| Land Assessment | $202,800 | Total Assessment | $516,200 |
