$995,000
Roanoke, VA 24012
MLS# 903092
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Property Description
WCP is pleased to offer for sale this triple net leased industrial property located in Roanoke, VA. The single-tenant asset is leased in its entirety to L&W Supply since 2000 with a 3% rent increases upon renewal in 2024. This offering provides a potential long-term, passive net lease opportunity at a current below-market rate with limited landlord responsibilities. The subject property consists of multiple buildings totaling just over 25,000 SF and features several warehouses, covered storage, office building and large fenced yard located on 2.2 acres. NOI: $71,820 Options: Final 3-Year Renewal Option beginning July 1, 2024 Parent Company, ABC Supply, is North America's largest wholesale distributer of roofing supplies with over 900 locations (more)
Details
Maps
General Property Description
Lot Dimensions: 600 x 163
Construction Status: Completed
Total Acreage: 2.23
Road Frontage: 763
Flood Area: No
On site Parking: Yes
Basement Y/N: No
Water Class: N/A
Gross Building SqFt: 25052
Lease Available: Yes
Leaseable SqFt: 25052
Year Built: 1978
Location, Tax & Legal
Major Area: 01 - City of Roanoke
Legal: LOT 25-39 BLK 10 LILLY VIEW
Tax ID: 3222224
Annual Taxes: 8400
Zoning Code: I-1
Area: 0150 - City of Roanoke - NE
Street Number: 1639
Street Name: Eastern
Street Suffix: AVE
Street Direction Sfx: NE
State/Province: VA
Zip Code: 24012
Municipality: City of Roanoke
Remarks & Misc
Directions: 1639 Eastern Ave. NE
Limited Service
Not Limited Service: 1
Construction
Metal Siding: 1
Commercial Type
Industrial: 1
Business Type
Type of Business (Historical Field): Drywall Distribution
Sale Includes
Building & Land: 1
Heating
Natural Gas: 1
Lease Info
Lease Terms: 5 Year
Lease Amount: 6300
Lease Expires: 2024-06-30
Cooling
Electric: 1
Income & Expenses
Gross Income: 75600
Water Description
Public: 1
Sewer Description
Public Sewer: 1
Manufactured Homes
No HUD Tag: 1
Roof System
Metal: 1
Shingle: 1
Levels
Two: 1
Floors
Concrete: 1
Additional Features
Additional Buildings: 1
Fenced: 1
Loading Docks: 1
Overhead Door: 1
Topography
Level: 1
Contract Information
Current Price: $995,000
Sold Price: $995,000
List Date: 2023-11-06
Status: Closed
Status Change Info
Ratified Contract Dt: 2024-01-18
Sold Date: 2024-05-01
Sold Price: $995,000
Property Features
Limited Service: Not Limited Service
Commercial Type: Industrial
Sale Includes: Building & Land
Construction: Metal Siding
Roof System: Metal; Shingle
Levels: Two
Heating: Natural Gas
Cooling: Electric
Floors: Concrete
Manufactured Homes: No HUD Tag
Additional Features: Additional Buildings; Fenced; Loading Docks; Overhead Door
Water Description: Public
Sewer Description: Public Sewer
Topography: Level
Supplements
Parent Company, ABC Supply, is North America's largest wholesale distributer of roofing supplies with over 900 locations.
L&W Supply (Tenant) has operated from this location since March 2000.
Stable Credit Tenant with strong financials, historically providing a steady and reliable income stream for Landlord.
NNN Lease with one 3-Year Renewal Option with Rent Increase.
Tenant responsible for Taxes, Insurance and Maintenance
Landlord Responsible for Roof, Structure and HVAC replacement.
2024 Scheduled rent increase = $6,300 beginning July 1.
Listing Office: WALDVOGEL COMMERCIAL PROPERTIES
Last Updated: December - 27 - 2024
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