Taco Bell,
Chilhowie, VA Investment Summary
| Price | $2,001,000 |
| Cap Rate | |
| NOI | |
| Lease Term | 23 Years Remaining |
| Lease Type | Absolute NNN, with Tenant Responsible for All Taxes, Insurance, Utilities, Repair and Maintenance, Including Roof, Structure, and Parking Lot |
| Rental Increases | 1% Annual Rental Increases |
| Year Built | 2015 |
| Building Size | 2,400 SF |
| Lot Size | 1.185 Acres (51,619 SF) |
| Status | Sold |
| Lead Brokers | Michael T. Yuras, CCIM Executive Managing Director 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Scott Crowle Senior Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 |
Investment Highlights
LONG-TERM ABSOLUTE NNN LEASE
» 25-year NNN lease with six five-year option periods
» Operated by Taco Bell’s largest franchisee, with 270 units
» Rare annual rental increases, providing an excellent hedge against inflation
» Absolutely no landlord management, providing an ideal investment for an outof- area investor
IMMEDIATE FREEWAY ACCESS IN RETAIL CORRIDOR
» Excellent hard corner location with immediate access to Interstate 81, a popular route for commercial traffic and for tourists traveling in the region
» 33,000 vehicles per day near the property on Interstate 81
» Surrounded by major national tenants, including McDonald’s, Dollar General, Subway, Food City, Western Union, Goodwill, NAPA Auto Parts, Advance Auto Parts, U-Haul, and BB&T
PRIME CENTRAL LOCATION
» Located in downtown Chilhowie, Chilhowie’s main commercial and retail district
» Within walking distance of Chilhowie High School (over 450 students and 46 staff members) and Valley Health Care Center (207 beds)
» Close proximity to several industrial parks and residential neighborhoods
NEW 2015 CONSTRUCTION
» 2015 construction featuring a dedicated drive-thru, providing additional customer convenience and boosting sales revenue
» Features latest store designs and concepts
Click Here to Download Offering Memorandum
Property Description
SOLD
The property is located at the hard corner of Old Stage Road and State Highway 107. Access to Interstate 81 is conveniently located less than half a mile from the site down State Highway 107. Interstate 81 is a major trucking corridor and a popular route through Southwest Virginia, with a high traffic count of 33,000 vehicles per day. The property is centrally located in downtown Chilhowie, Chilhowie’s main retail and business district. Several major retailers are located near the property, including McDonald’s, Dollar General, Subway, Food City, Western Union, Goodwill, NAPA Auto Parts, Advance Auto Parts, U-Haul, and BB&T.
The property benefits from a solid customer base in the nearby area. Chilhowie High School is located within walking distance of the property. The high school has an enrollment of over 450 students and employs 46 staff members. Valley Health Care Center, a 207-bed hospital, is also located nearby. Additionally, several industrial parks and a number of residential neighborhoods are located near the property, with employees and residents providing a strong customer base for Taco Bell.
