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516 Commerce Dr 5,881 SF Retail Building Bluefield, VA 24605 $2,735,459 ($465.14/SF) 5.75% Cap Rate
Investment Highlights
- Absolute Triple Net (NNN) Lease with Zero Landlord Responsibilities
- Attractive Rental Increases | 1.50% Annually
- Tenant / Guarantor: Legacy Apple III / Legacy Apple II (40+ Restaurants)
- 12+ Years of Lease Term Remaining
- Four (4) Tenant Renewal Periods of Five (5) Years Each
- Strong Traffic Counts | Highway 460 | Average Daily Traffic Counts of 18,000 Vehicles
Executive Summary
Introducing APPLEBEE'S, a prime investment opportunity in Bluefield, Virginia. Priced at $2,735,459 with a solid CAP rate of 5.75% and annual rent of $157,289, this property offers a lucrative venture. Featuring an optimal lease structure with 12+ years remaining and attractive rental increases, this absolute Triple Net (NNN) lease requires zero landlord responsibilities. The tenant, Legacy Apple III / Legacy Apple II, brings over 40 restaurants of experience to the table. Located in a dense retail corridor near major brands like Walmart and McDonald's, the property enjoys robust traffic counts and proximity to Bluefield College. Operated by a reputable franchisee, this Applebee's is part of the thriving Thrive Restaurant Group, offering stability and a strong brand presence. Don't miss out on the chance to invest in this renowned property in an excellent location with a reliable tenant and promising financial returns.
Property Facts
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
5,881 SF
Building Class
B
Year Built
2005
Price
$2,735,459
Price Per SF
$465.14
Cap Rate
5.75%
NOI
$157,289
Tenancy
Single
Building Height
1 Story
Building FAR
0.13
Lot Size
1.05 AC
Parking
58 Spaces (9.86 Spaces per 1,000 SF Leased)
Frontage
Nearby Major Retailers
Property Taxes
| Parcel Number | 025-A-0041A4 | Improvements Assessment | $839,900 |
| Land Assessment | $730,300 | Total Assessment | $1,570,200 |
Property Taxes
Parcel Number
025-A-0041A4
Land Assessment
$730,300
Improvements Assessment
$839,900
Total Assessment
$1,570,200
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