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12604 Maccorkle Ave 11,692 SF Retail Building Chesapeake, WV 25315 $1,292,690 CAD ($110.56 CAD/SF) 9% Cap Rate
Investment Highlights
- 9% CAP NN+ Dollar General - No HVAC Responsibility for Landlord
- All Brick Construction With Great Visibility/Frontage Along Main Road Through Chesapeake
- Landlord Friendly Lease - DG Fully Reimburses for CAM Expenses
- Current Lease Expires 4/30/2029 - 3 Years Remaining
- Just 15 Miles From Downtown Charleston, 2nd Largest MSA in West Virginia
- 10% Increases in Option Periods
Executive Summary
We are pleased to present the exclusive opportunity to purchase a freestanding Dollar General investment property located at 12604 MacCorkle Avenue SE in Chesapeake, West Virginia (the “Property”). Dollar General has been at this location since 2019 and has 3+ years remaining on their lease with three (3), 5-year renewal options. The lease features attractive 10% rent increases at the start of each renewal option.
The Property is well located along MacCorkle Avenue SE (WV Route 61), the area’s primary commercial and commuter corridor, and enjoys outstanding frontage and visibility with a large pylon sign. The Property is positioned in the heart of Chesapeake and Dollar General benefits from a lack of competition as it is one of the only national retailers serving the town. The Property is surrounded by area businesses, schools and residential neighborhoods, and provides convenient access to Interstate 64, US Route 60, and WV Route 94. Chesapeake is positioned along the banks of the Kanawha River approximately 15 miles southeast of Charleston, the state capital and economic center of central West Virginia.
The Property is well located along MacCorkle Avenue SE (WV Route 61), the area’s primary commercial and commuter corridor, and enjoys outstanding frontage and visibility with a large pylon sign. The Property is positioned in the heart of Chesapeake and Dollar General benefits from a lack of competition as it is one of the only national retailers serving the town. The Property is surrounded by area businesses, schools and residential neighborhoods, and provides convenient access to Interstate 64, US Route 60, and WV Route 94. Chesapeake is positioned along the banks of the Kanawha River approximately 15 miles southeast of Charleston, the state capital and economic center of central West Virginia.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
11,692 SF
Building Class
B
Year Built
1969
Price
$1,292,690 CAD
Price Per SF
$110.56 CAD
Cap Rate
9%
NOI
$116,342 CAD
Tenancy
Single
Building Height
1 Story
Loading Docks
1 Exterior
Building FAR
0.37
Lot Size
0.72 AC
Frontage
128’ on MacCorkle Ave
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Retailer
- -
-
$9.99
-
Lorem Ipsum
-
Jan 0000
Dollar General is a national discount retailer operating multiple neighborhood-scale stores throughout New Port Richey, Florida. The Massachusetts Avenue location serves surrounding residential neighborhoods with a broad assortment of everyday necessities at low price points. The store offers groceries, snacks, health and beauty products, cleaning supplies, basic apparel, paper goods, seasonal items, and private-label merchandise.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Retailer | - | $9.99 | Lorem Ipsum | Jan 0000 |
Property Taxes
| Parcel Number | 20-3-00600000 | Improvements Assessment | $761,835 CAD |
| Land Assessment | $101,341 CAD | Total Assessment | $863,176 CAD |
Property Taxes
Parcel Number
20-3-00600000
Land Assessment
$101,341 CAD
Improvements Assessment
$761,835 CAD
Total Assessment
$863,176 CAD
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12604 Maccorkle Ave
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