1639 Eastern AVE NE, Roanoke, VA 24012

$995,000

L&W Supply Stock Photo Not actual location

Property Type: Commercial Lot Size (sq. ft.): 97,139 Status: Closed

Current Price: $995,000 List Date: 11/09/2023 Last Modified: 12/27/2024

Overview

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)

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 Opt ... (Read more)

Listing Details MLS# 903092

Location, Tax & Legal

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

General Property Description

Construction Status: Completed
Year Built: 1978
Lot Dimensions: 600 x 163
Total Acreage: 2.23
Road Frontage: 763
Flood Area: No
On site Parking: Yes
Gross Building SqFt: 25052
Lease Available: Yes
Leaseable SqFt: 25052
Basement Y/N: No
Water Class: N/A

Status Change Info

Ratified Contract Dt: 2024-01-18
Sold Date: 2024-05-01

Business Type

Type of Business (Historical Field): Drywall Distribution

Lease Info

Lease Terms: 5 Year
Lease Amount: 6300
Lease Expires: 2024-06-30

More Information

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

Listing Office: WALDVOGEL COMMERCIAL PROPERTIES

Last Updated: December - 27 - 2024

All searches are performed on live data on the MLS server. Although the Multiple Listing Service of The Roanoke Valley is the single source for these listings, listing data appearing on this website does not necessarily reflect the entirety of all available listings within the Multiple Listing Service. All listing data is refreshed daily, but its accuracy is subject to market changes. All copyrights and intellectual property rights are the exclusive property of the Multiple Listing Service of The Roanoke Valley. Whether obtained from a search result or otherwise, visitors to this website may only use this listing data for their personal, non-commercial benefit. The unauthorized retrieval or use of this listing data is prohibited.