1321 Edwin Miller BlvdMartinsburg, WV 25404

For Sale
$1,508,966

High-yield, 12-year NNN lease.

Overview

Added:
Dec 11, 2024
Days on market:
93
This fee-simple retail property in Martinsburg, West Virginia, presents a compelling investment opportunity. The 3,047 square-foot building, constructed in 1987, sits on a 0.41-acre lot and is currently 100% occupied under a single-tenant, absolute NNN lease with a corporate tenant. The lease commenced October 8, 2021, and has a remaining term of approximately 11.9 years, expiring September 29, 2036. The lease includes annual rent bumps of 2.50%, providing a built-in hedge against inflation. The current annual net operating income (NOI) is $120,717, representing an 8.00% capitalization rate on the asking price of $1,508,966. The property features multiple drive-thrus and is conveniently located in a strong retail trade area with excellent access to a primary thoroughfare. The surrounding area boasts a dense and affluent demographic profile, with over 64,300 residents and an average household income exceeding $87,400 within a 5-mile radius. This investment offers a passive income stream with significant long-term growth potential. The property is located at 1321 Edwin Miller Blvd, Martinsburg, WV 25404. The building is a single-story structure.

Highlights

  • Absolute NNN lease with long-term, built-in annual rent increases.
  • Corporate tenant with a strong, growing national presence.
  • Limited-license medical use permitted.
  • Outparcel in a grocery-anchored shopping center with multiple drive-thru restaurants.
  • Excellent visibility and access from a major thoroughfare.
  • Strong retail trade area with dense, affluent demographics.

Property Details for 1321 Edwin Miller Blvd

Property type
Other retail properties, Individual retail properties
Square Feet
3,047 SF
Year Built
1987
Buildings
1
Stories
1
Lot Size (sq. ft)
17,860 SF

Location Insight

City
Martinsburg
County
Berkeley
State
West Virginia
Latitude
39.4779987
Longitude
-77.9579148
1321 Edwin Miller Blvd, Martinsburg, West Virginia

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1321 Edwin Miller Blvd
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