$1,245,853

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 TypeFor Sale
Sub-TypeResale
StatusActive
Days On Site253

Features

SQ Feet3,750
Story(s)1
ZoningM1 Ind/Com
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Area Information
StateVA
CountyLebanon
CityLebanon
Zip Code24266
AreaRussell
Listing VS Median (in 24266)
Price:
$1,245,853
low | high
Med:
$30,500
100% of Average
SqFt:
3,750
low | high
Med:
0
100% of Average
$ / SqFt:
$332
low | high
Med:
$0
100% of Average
On Site:
253
low | high
Med:
295
85.762711864407% of Average
Listing Updated: February 25, 2021 10:41:24 AM PST
Dustin Keith LogoMLS Number: 74468
Listing Provided By:
Dustin Keith  of  Stuart Associates
MLS Internet Data Exchange (IDX) information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the South West Virginia Association of REALTORS®.