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Advance Auto Parts 1280 Armory Dr 6,080 SF Retail Building Franklin, VA 23851 $849,231 ($139.68/SF) 6.50% Cap Rate
INVESTMENT HIGHLIGHTS
- Recent Lease Extension
- Below-Market Rent
- Stable Income Stream
- Strategic Location: Lowe’s Outparcel
- High-Traffic Corridor
- Attractive Southeast Market
EXECUTIVE SUMMARY
Dash CREA is pleased to offer 1280 Armory Drive in Franklin, VA — a single-tenant retail asset positioned as a Lowe’s outparcel along the market’s dominant retail corridor. The property features a recent lease extension, confirming the tenant’s long-term commitment and providing secure cash flow. With rents well below market, the asset offers investors immediate upside potential in both income and value while benefiting from strong traffic and synergy with national retailers including Lowe’s, Walmart, and Tractor Supply.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
6,080 SF
Building Class
C
Year Built
1997
Price
$849,231
Price Per SF
$139.68
Cap Rate
6.50%
NOI
$55,200
Tenancy
Single
Building Height
1 Story
Building FAR
0.22
Lot Size
0.64 AC
Zoning
B3
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 120-167-3D | Improvements Assessment | $354,300 |
| Land Assessment | $415,600 | Total Assessment | $769,900 |
PROPERTY TAXES
Parcel Number
120-167-3D
Land Assessment
$415,600
Improvements Assessment
$354,300
Total Assessment
$769,900
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Dash Commercial Real Estate Advisors
Advance Auto Parts | 1280 Armory Dr
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