89 Elliott Dr,
Lebanon VA, 24266
Description
This former Applebee's restaurant in Lebanon, VA is now available for sale as a commercial investment. Triple net lease is in place with AIG Virginia, LLC through June 12, 2028 The 3,750 SF free-standing masonry building was constructed in 2006 and sits on a 1.413 AC lot with 80 parking spaces- a pad to Walmart Supercenter. Previous Applebee's restaurant closed in July 2019, and all restaurant equipment and furnishings remain. Property is located near the exit to US Highway 19 in an economic development area with retail anchors including Walmart, Dollar Tree, Advance Auto Parts, Rent-A-Center, Russell Cellular Verizon retailer, and CATO Fashions. Average daily traffic count of US HWY 19 is 13,000 as per VDOT. Rent: September 1, 2019 TO March 1, 2022- $7,786.57/month. Rent April 1, 2022 TO March 1, 2027- $9,036.57/month. Rent April 1, 2027 TO June 1, 2028- $9,453.24/month.
Details
| MLS# | 74468 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Days On Site | 253 |
Features
| SQ Feet | 3,750 |
|---|---|
| Story(s) | 1 |
| Zoning | M1 Ind/Com |
Request a showing
Request a showing
| Area Information | |
|---|---|
| State | VA |
| County | Lebanon |
| City | Lebanon |
| Zip Code | 24266 |
| Area | Russell |
| Listing VS Median (in 24266) | |
Price: $1,245,853 low | high Med: $30,500 SqFt: 3,750 low | high Med: 0 $ / SqFt: $332 low | high Med: $0 On Site: 253 low | high Med: 295 | |
MLS Number: 74468Listing Provided By:
Dustin Keith of Stuart Associates