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U.S. Foods | Single Tenant Grocery Store 2535 Wards Rd 23,939 SF Retail Building Lynchburg, VA 24502 $7,650,000 ($319.56/SF) 5.75% Cap Rate
Investment Highlights
- Corporate Guaranteed Lease | Options To Extend | Scheduled Increases
- Across From River Ridge Mall | Less Than 1 Mile From Liberty University (100,000 Students)
- Fee Simple Ownership | Limited Landlord Responsibilities
- Strong Demographics In The 5-Mile Trade Area
Executive Summary
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN Leased, US Foods Chef’Store investment property located in Lynchburg, Virginia. The tenant, US Foods Chef’Store, Inc signed a 15 year lease in 2022 with with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is a double net (NN) lease, providing the investor responsibilities limited to the roof, which is under warranty for another 16 years, and the structure. US Food’s Inc. is an expanding national brand that provides an in store grocery shopping experience, and is a wholesaler to various restaurants and chains. The tenant has an S&P credit rating of BB+.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Supermarket
Building Size
23,939 SF
Building Class
C
Year Built
2021
Price
$7,650,000
Price Per SF
$319.56
Cap Rate
5.75%
NOI
$439,759
Tenancy
Single
Building Height
1 Story
Building FAR
0.20
Lot Size
2.71 AC
Opportunity Zone
Yes
Zoning
B5 - General Business District
Parking
121 Spaces (5.05 Spaces per 1,000 SF Leased)
Frontage
279’ on Wards Road
Amenities
- Corner Lot
- Pylon Sign
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Not bikeable
10/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 162-28-023 | Improvements Assessment | $4,050,400 |
| Land Assessment | $1,086,000 | Total Assessment | $5,136,400 |
Property Taxes
Parcel Number
162-28-023
Land Assessment
$1,086,000
Improvements Assessment
$4,050,400
Total Assessment
$5,136,400
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U.S. Foods | Single Tenant Grocery Store | 2535 Wards Rd
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