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18928 US Highway 58 8,702 SF Retail Building Castlewood, VA 24224 $550,000 ($63.20/SF) 2.20% Cap Rate
INVESTMENT HIGHLIGHTS
- Drive Thru
- 2,320 sq/ft and is leased for office use
EXECUTIVE SUMMARY
For nearly 60 years this drive-in restaurant has been in business serving the public with a reputation as a landmark destination for good food. The property is .99 acre with 4 structures on it. The primary building is the restaurant that is fully equipped and is 4,590 sq/ft. Another structure is 2,320 sq/ft and is leased for office use. A third building is a 1,792 sq/ft manufactured doublewide home that could also be for use or rental income. The fourth building is a smaller brick building. Please contact the listing broker for any questions, more information, and to schedule a property showing.
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Restaurant
Building Size
8,702 SF
Building Class
C
Year Built
1967
Price
$550,000
Price Per SF
$63.20
Cap Rate
2.20%
NOI
$12,087
Tenancy
Single
Building Height
1 Story
Building FAR
0.20
Lot Size
0.99 AC
AMENITIES
- Drive Thru
PROPERTY TAXES
| Parcel Number | 156LILE3337 | Improvements Assessment | $294,900 |
| Land Assessment | $129,400 | Total Assessment | $424,300 |
PROPERTY TAXES
Parcel Number
156LILE3337
Land Assessment
$129,400
Improvements Assessment
$294,900
Total Assessment
$424,300
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18928 US Highway 58
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