2256 Alta DrAlderson, WV 24910

For Sale
$987,000

West Virginia Convenience Store, 9% Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
92
This exceptional investment opportunity presents a single-tenant, net-leased Family Dollar store located at 2256 Alta Dr, Alderson, WV 24910. The 8,000 square foot property sits on a 1.02-acre lot and boasts a strong 9.00% cap rate, generating a net operating income (NOI) of $88,770. Built in 2013, the property features a recently extended corporate lease with Dollar Tree, extending through February 2028, with four 5-year option periods including 10% rent increases each. This represents a secure, long-term investment with a publicly traded, investment-grade tenant (Dollar Tree, NYSE: DLTR). The property benefits from its proximity to Lewisburg, WV, the county seat of Greenbrier County, offering access to government jobs, growth, and a robust retail environment including national retailers like Lowe's, Walmart, and Kroger. The location also enjoys proximity to the WV State Fair and Greenbrier Valley Medical Center. The lease is a triple-net (NNN) lease, meaning the tenant is responsible for property taxes, insurance, and maintenance (excluding roof and structure). This low-maintenance, high-return investment is priced at $987,000 ($123.38/sq ft) and presents a compelling opportunity for investors seeking stable income and long-term growth potential. The asking price reflects a lower-than-market rent, enhancing the overall return.

Highlights

  • Sub-$1M Price Point: Family Dollar store available for under $1 million due to lower-than-average rent.
  • Strong Location: Located 12 miles west of Lewisburg, WV (Greenbrier County seat), near major retailers (Walmart, Kroger, Lowe's) and Greenbrier Valley Medical Center.
  • Long-Term Lease: Corporate-guaranteed, Net-Net-Net (NNN) lease with Dollar Tree, extending through March 2028, with four 5-year renewal options including 10% rent increases each.
  • Investment-Grade Tenant: Dollar Tree (DLTR), a Fortune 500 company with an S&P BBB investment-grade credit rating.

Property Details for 2256 Alta Dr

Property type
Other retail properties, Individual retail properties
Square Feet
8,000 SF
Year Built
2013
Lot Size (sq. ft)
44,431 SF

Location Insight

City
Alderson
County
Greenbrier
State
West Virginia
Latitude
37.7297083
Longitude
-80.6310439
2256 Alta Dr, Alderson, West Virginia

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2256 Alta Dr
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