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219 Arch Ave

3,800 SF Retail Building Waynesboro, VA 22980 £800,298 (£211/SF) 6.15% Net Initial Yield

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Executive Summary

PRICE REDUCED! 6.15% Cap Rate!
Freestanding 3,800 SF retail building on 0.43 acre lot with abundant parking - 17 spaces. Leased on NNN basis to VA ABC on a ten-year
lease through 02/28/2030 with two 5 year options to renew. Tenant reimbursements for operating expenses approximately $3.28/SF. The building was fully renovated in 2019. Well located property in downtown Waynesboro. Shadow anchored by Kroger and surrounded by dense residential development. Just off W. Main St and less than 3 miles from I-64.

Arch Ave (219) Flyer 2024-11-22

Property Facts

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Freestanding

Building Size

3,800 SF

Building Class

Year Built

2008

Price

£800,298

Price Per SF

£211

Net Initial Yield

6.15%

NOI

£49,219

Tenancy

Single

Number of Floors

Building FAR

0.20

Land Acres

0.43 AC

Zoning

C-B

Parking

10 Spaces (2.63 Spaces per 1,000 SF Leased)

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Walk Score ®

Very Walkable (75)

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PROPERTY TAXES

Parcel Number	45 1 1- 16	Improvements Assessment	£239,736
Land Assessment	£71,434	Total Assessment	£311,170

PROPERTY TAXES

Parcel Number

45 1 1- 16

Land Assessment

£71,434

Improvements Assessment

£239,736

Total Assessment

£311,170

Listing ID: 31084199
Date on Market: 29/02/2024
Last Updated:
Address: 219 Arch Ave, Waynesboro, VA 22980

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219 Arch Ave, Waynesboro, VA for sale Primary Photo- Image 1 of 9 — Primary Photo

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