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423-968-7653
Commercial ()

1404 Virginia Ave
Bristol, TN 37620

Price: $1,250,000  Price Per ft²: $156.25  List Date: 2023-12-08  DOM:  132
City Tax: $4,139 County Tax: $5,015
Year Built: 2012 

Finished Area: 8,000 ft²

Unfinished: 0 ft² (not in garage)  

Total Area: 8,000 ft² (Finished & Unfinished)

Lot Size: 0.75 acre(s)Lot Dimensions: 190.70 X 168.93 IRR
Heating: Heat PumpCooling: Heat PumpWater & Sewage: Public

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.

Community Information

Geographical
County: Sullivan
Subdivision:
Zoning: B3
School System
Elementary
Middle
High

Interior

Exterior

Roof: Metal Exterior Finish: Metal Siding, Stone 

Photos

Listing by The Addington Agency Bristol
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