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1404 Virginia Avenue

Bristol, TN 37620
  • $1,250,000
  • STATUS: Active
  • ON SITE: 84 Days
  • MLS #: 9960118
UPDATED: 80 min ago
$1,250,000
  • 0
    BEDS
  • 0.75
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 8,000
    SQFT
  • $156
    $/SQFT
Neighborhood:
Type:
Commercial-Lease
Built:
2012
County:

School Ratings & Info

Description

Welcome to an exceptional investment opportunity! Constructed in 2011, this single-tenant building has recently signed a 5-year lease extension, effective from 6/30/24, along with (2) 5-year options, each featuring a 5% rent escalation. The subject property boasts an impressive 12-year operating history, establishing a track record of successful operations and tenant reliability. Notably, this Family Dollar is strategically positioned providing competitive advantage in serving the essential needs of Bristol TN consumers. The investment is further strengthened by a corporate lease with Family Dollar, Inc., which is an investment-grade subsidiary of Dollar Tree, Inc. (NASDAQ: DTLR) and holds a favorable S&P rating of BBB. Family Dollar, Inc. is the largest dollar store chain in the United States, boasting an impressive network of 15,500+ locations. The company achieved record-setting net sales of $26.3 billion in 2021 and was ranked #137 in the prestigious Fortune 500 list in 2022. The property's location is strategically chosen for excellent accessibility, situated near the intersection of Hwy 394 and Hwy 421, with a daily traffic count exceeding 8,000+ cars per day. This accessibility ensures the property's visibility and ease of access for consumers, further enhancing the tenant's success in serving the local market. The surrounding population of 117,301 people have an average household income of $55,387. Don't miss out on this rare opportunity to secure a stake in a resilient investment with a solid tenant, prime location, and an exceptional track record of financial stability.



© 2024 Tennessee/Virginia Regional Multiple Listing Service. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS. Data last updated: 2024-03-02T06:59:57.597.
www.conservusrealestategroup.com/homes/145926398
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1404 Virginia Avenue Bristol, TN 37620

  • Price: $1,250,000
  • Status: Active
  • On Site: 84 Days
  • Updated: 80 min ago
  • MLS #: 9960118
0
Beds
0
Baths
0
½ Baths
0.75
Acres
8,000
SQFT
$156
$/SQFT
2012
Built
Neighborhood:
Bristol Tn(City)
County:
Sullivan
Area:
Bristol Tn(City)
Property Description
Welcome to an exceptional investment opportunity! Constructed in 2011, this single-tenant building has recently signed a 5-year lease extension, effective from 6/30/24, along with (2) 5-year options, each featuring a 5% rent escalation. The subject property boasts an impressive 12-year operating history, establishing a track record of successful operations and tenant reliability. Notably, this Family Dollar is strategically positioned providing competitive advantage in serving the essential needs of Bristol TN consumers. The investment is further strengthened by a corporate lease with Family Dollar, Inc., which is an investment-grade subsidiary of Dollar Tree, Inc. (NASDAQ: DTLR) and holds a favorable S&P rating of BBB. Family Dollar, Inc. is the largest dollar store chain in the United States, boasting an impressive network of 15,500+ locations. The company achieved record-setting net sales of $26.3 billion in 2021 and was ranked #137 in the prestigious Fortune 500 list in 2022. The property's location is strategically chosen for excellent accessibility, situated near the intersection of Hwy 394 and Hwy 421, with a daily traffic count exceeding 8,000+ cars per day. This accessibility ensures the property's visibility and ease of access for consumers, further enhancing the tenant's success in serving the local market. The surrounding population of 117,301 people have an average household income of $55,387. Don't miss out on this rare opportunity to secure a stake in a resilient investment with a solid tenant, prime location, and an exceptional track record of financial stability.
Exterior Features

Construction Materials Metal SidingStone Roof Metal

Interior Features

Building Area Total 8000 Cooling Heat Pump General Property Description Total Sq Ft Finish 8000 General Property Description Total Sq Ft Unfini 0 Heating Heat Pump Heating YN Yes

Property Features

Contract Info Auction No Contract Info Foreclosure No Contract Info Short Sale No Cooling YN Yes Documents Available [] Listing Terms CashConventional New Construction YN No Other Equipment Exterior LightsFire Sprinkler System Property Condition Above Average Sewer Public Sewer Water Source Public Zoning B3

Listing information © 2024 Tennessee/Virginia Regional MLS.
Listing provided courtesy of Garrett Addington of The Addington Agency Bristol: 423-845-5800.



© 2024 Tennessee/Virginia Regional Multiple Listing Service. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS. Data last updated: 2024-03-02T06:59:57.597.
 
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Conservus Real Estate Group
402 East Main Street
Kingsport TN, 37660