$1,250,000
1404 Virginia Avenue
Bristol, TN 37620
MLS# 9960118
8000 sqft


1404 Virginia Avenue, Bristol, TN 37620
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1404 Virginia Avenue, Bristol, TN 37620

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. This property is located within Bristol, and is subject to the landfill disclosure. Please ask your agent for further details. This disclosure applies for all properties in Bristol regardless of the proximity. All information contained herein is deemed reliable but gathered from tax records and homeowner and is subject to buyers verification.

Details
Maps
Location, Tax & Legal Info
Street #: 1404
Street Name: Virginia
St Suffix: Avenue
County: Sullivan
State/Province: TN
Zip Code: 37620
Area: 103 - Bristol TN (City)
Block: 12
Deed Book #: 3018
Deed Page #: 2374
Parcel ID: 021j H 023.00
City Taxes: 4139.45
County Taxes: 5014.52
Contract Info
Status: Active
Listing Price: 1250000
Current Price: $1,250,000
List Price/SqFt: 156.25
Listing Date: 2023-12-08
Buyer Broker: Yes
Buyer Broker Comm: 3
Buyer Broker Comm Type: %
Foreclosure: No
Short Sale: No
Auction: No
General Property Description
Lease: Yes
Lot Size: 190.70 X 168.93 IRR
Acres: 0.75
Zoning: B3
Year Built: 2012
Total SqFt: 8000
Total SqFt Finished: 8000
HOA Y/N: No
Annual Lease $: 84000
Remarks & Misc
Public Remarks: 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. This property is located within Bristol, and is subject to the landfill disclosure. Please ask your agent for further details. This disclosure applies for all properties in Bristol regardless of the proximity. All information contained herein is deemed reliable but gathered from tax records and homeowner and is subject to buyers verification.
Directions: From downtown Bristol, take Anderson St until turns into Pennsylvania Ave. Turn left onto Maple St. Turn right onto Virginia Ave.
Property Features
Property Condition: Above Average
Business Type: Convenience Store; Franchise; Retail; See Remarks
Exterior Finish: Metal Siding; Stone
Other Equipment: Exterior Lights; Fire Sprinkler System
Roof: Metal
Electric Service: Phase 3
Development Status: Infrastructure In
Heating: Heat Pump
AC: Heat Pump
Water: Public
Sewer: Public Sewer
Road Access: City Street
Info Available: Building Plan; Leases
Restrictions: See Remarks
Financing: Cash; Conventional
Sale Includes: Fee Simple

Listing Office: The Addington Agency Bristol

Last Updated: April - 08 - 2024


The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.

Information deemed reliable but not guaranteed.


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