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3812 Wards Rd

7,450 SF Retail Building Lynchburg, VA 24502 £2,863,096 (£384/SF) 6.85% Net Initial Yield

Investment Highlights

  • 7% Cap January 1st 2025
  • Exterior & Interior Renovations
  • 2% Annual Rent Increases
  • Recent 10yr Lease Extension

Executive Summary

Buffalo Wild Wings is a time-tested restaurant concept which continues to perform not only across the United States, but around the world selling 5.5 million wings a day. This particular Lynchburg location is found within a dominant shopping corridor and is proximate to countless retailers such as: Walmart, Sam’s Club, Texas Roadhouse, Cracker Barrel, Chick-fil-A, Target; and the areas major regional mall; Liberty University; as well as has direct walking access to a Central Virginia Community College campus. The store has outside seating for patrons, and also uniquely has outdoor accessible bar seating, further enhancing the customer experience. An astute investor will capitalize on a rare opportunity to acquire a proven business concept & location, backed by a renovated store with a recently extended lease and absolutely ZERO landlord responsibilities. The current lease runs through year end 2033 with additional options to extend thereafter and has fixed two percent(2%) annual rent increases beginning on January 1, 2025.

Property Facts

Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
7,450 SF
Year Built/Renovated
2015/2024
Price
£2,863,096
Price Per SF
£384
Net Initial Yield
6.85%
NOI
£196,102
Tenancy
Single
Number of Floors
1
Building FAR
0.18
Land Acres
0.94 AC
Opportunity Zone
Yes
Zoning
B3R3

Nearby Major Retailers

Cracker Barrel Old Country Store
Texas Roadhouse
Buffalo Wild Wings
Cook Out
Noodles & Company
Mission Bbq
Starbucks
Five Guys Burgers & Fries
Planet Fitness
WW

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
257-03-021
Land Assessment
£479,342
Improvements Assessment
£1,776,153
Total Assessment
£2,255,495
  • Listing ID: 33105756

  • Date on Market: 08/09/2024

  • Last Updated:

  • Address: 3812 Wards Rd, Lynchburg, VA 24502

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