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281 Commonwealth Blvd W
Martinsville, VA 24112
Applebee's Corporate 15 Year Lease · Retail Property For Sale
Property Facts
Property Type
Retail
Property Subtype
Restaurant
Building Size
4,685 SF
Building Class
B
Year Built
1995
Tenancy
Single
Building Height
1 Story
Building FAR
0.10
Lot Size
1.09 AC
Zoning
C-3
Parking
100 Spaces (10 Spaces per 1,000 SF Leased)
Frontage
221’ on Commonwealth Ave.
About 281 COMMONWEALTH BLVD W , MARTINSVILLE, VA 24112
Marcus & Millichap is pleased to present for sale this freestanding Applebee's located in Martinsville, Virginia. This Rare Corporate Guaranteed Applebee's is located across the street from a recently remodeled Power Center anchored by Kroger, Belk, Dunham Sports, Office Max, and Marshalls. There are 15 years remaining on the original lease with 1.5 percent annual increases until 2022 and then 10% increases every five years starting in July 2023. This site experiences strong, steady sales due to its strategic location on Commonwealth Boulevard, a main thoroughfare for the county of Martinsville.
Property Taxes
| Parcel Number | 000980340 | Improvements Assessment | $632,800 |
| Land Assessment | $376,800 | Total Assessment | $1,009,600 |
Property Taxes
Parcel Number
000980340
Land Assessment
$376,800
Improvements Assessment
$632,800
Total Assessment
$1,009,600
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