Vacant-User
Auction - Applebee's (Dark) | Lease Expires Jan 2027 | $113,135 NOI | 45K VPD Traffic Count
33 W Main St, Radford, VA 24141
Starting Bid: $300,000
Investment Overview
Register to Bid and Access Due Diligence Documents on RealINSIGHT Marketplace - https://rimarketplace.com/auction/2232/
Marcus & Millichap is pleased to present the fee simple interest in a dark Applebee’s restaurant building located at 33 W Main Street in Radford, Virginia (the “Property”). The Property is offered significantly below replacement cost and offers an exceptional owner/user or investment opportunity with significant value enhancement potential at a significant discount.
Built in 2000, the Property is improved with a one-story, free-standing, single tenant restaurant totaling ±6,127 square feet, and offers ±98 surface parking spaces. The Property is strategically positioned on a huge parcel totaling ±1.95 acres of land and can be accessed via several points of ingress/egress. The Property is adjacent to CVS near the signalized intersection of W Main Street and Lee Highway. The Property was formerly occupied by Applebee’s who vacated the premise last year and is paying out their annual $113,135 rent (fully NNN) for the remainder of their term through January 31, 2027.
Radford, Virginia, located in the New River Valley, is a city known for its proximity to Radford University and major transportation routes like Interstate 81, making it a regional hub for both education and commercial activity. Radford University, the region’s largest employer, is just 5 minutes from the Property and serves over 11,000 students, fueling demand for housing, retail, and service-oriented businesses. The Property offers 212 feet of prime frontage/visibility along the north side of the heavily trafficked W Main Street with traffic counts ±18,635 vehicles per day. The Property is in a dense retail corridor with nearby retailers including CVS, Walmart, Lowe’s, Kroger, Chipotle, Starbucks, Sonic, Food Lion, Food City, Cookout, and many others. The Property is positioned in a dense area with ±24,747 people within a 5-mi radius and an average household income of $66,224. The population has experienced 4.28% growth from 2020-2024 with 7.18% growth expected to continue through 2029.
Investment Highlights
- STARTING BID $300,000 | | Lease Expires Jan 2027 | $113,135 NOI | 45K VPD Traffic Count | AUCTION NOVEMBER 18-20, 2024
- Freestanding Dark Applebee's Restaurant on Large 1.95 Acre Lot
- Applebee's has Vacated the Premise and Pays $113,135 Annual Rent NNN Through January 31, 2027
- Prime Retail Corridor including CVS, Walmart, Lowe's, Kroger, Chipotle, Starbucks, Sonic, Food Lion, Food City, Cookout, and more
- ±18,635 VPD Traffic Count on W Main St and ±26,579 VPD Traffic County on Lee Hwy
- Shared Access with Co-Tenant CVS | Five Minutes from Radford University | Across Street from Radford High & Intermediate Schools
- Zoning B2, General Business and Suitable for a Variety of General Commercial Uses & Activities
- ±4.28% Population Growth from 2020-2024 and ±7.18% Future Growth Anticipated (5-mile radius)
Exclusively Listed By
Auction Advisors
Broker of Record
-
Brian Hosey
Senior Vice President/Division Manager
Vacant-User
Auction - Applebee's (Dark) | Lease Expires Jan 2027 | $113,135 NOI | 45K VPD Traffic Count
Starting Bid: $300,000
Investment Highlights
- STARTING BID $300,000 | | Lease Expires Jan 2027 | $113,135 NOI | 45K VPD Traffic Count | AUCTION NOVEMBER 18-20, 2024
- Freestanding Dark Applebee's Restaurant on Large 1.95 Acre Lot
- Applebee's has Vacated the Premise and Pays $113,135 Annual Rent NNN Through January 31, 2027
- Prime Retail Corridor including CVS, Walmart, Lowe's, Kroger, Chipotle, Starbucks, Sonic, Food Lion, Food City, Cookout, and more
- ±18,635 VPD Traffic Count on W Main St and ±26,579 VPD Traffic County on Lee Hwy
- Shared Access with Co-Tenant CVS | Five Minutes from Radford University | Across Street from Radford High & Intermediate Schools
- Zoning B2, General Business and Suitable for a Variety of General Commercial Uses & Activities
- ±4.28% Population Growth from 2020-2024 and ±7.18% Future Growth Anticipated (5-mile radius)
Investment Overview
Register to Bid and Access Due Diligence Documents on RealINSIGHT Marketplace - https://rimarketplace.com/auction/2232/ Marcus & Millichap is pleased to present the fee simple interest in a dark Applebee’s restaurant building located at 33 W Main Street in Radford, Virginia (the “Property”). The Property is offered significantly below replacement cost and offers an exceptional owner/user or investment opportunity with significant value enhancement potential at a significant discount. Built in 2000, the Property is improved with a one-story, free-standing, single tenant restaurant totaling ±6,127 square feet, and offers ±98 surface parking spaces. The Property is strategically positioned on a huge parcel totaling ±1.95 acres of land and can be accessed via several points of ingress/egress. The Property is adjacent to CVS near the signalized intersection of W Main Street and Lee Highway. The Property was formerly occupied by Applebee’s who vacated the premise last year and is paying out their annual $113,135 rent (fully NNN) for the remainder of their term through January 31, 2027. Radford, Virginia, located in the New River Valley, is a city known for its proximity to Radford University and major transportation routes like Interstate 81, making it a regional hub for both education and commercial activity. Radford University, the region’s largest employer, is just 5 minutes from the Property and serves over 11,000 students, fueling demand for housing, retail, and service-oriented businesses. The Property offers 212 feet of prime frontage/visibility along the north side of the heavily trafficked W Main Street with traffic counts ±18,635 vehicles per day. The Property is in a dense retail corridor with nearby retailers including CVS, Walmart, Lowe’s, Kroger, Chipotle, Starbucks, Sonic, Food Lion, Food City, Cookout, and many others. The Property is positioned in a dense area with ±24,747 people within a 5-mi radius and an average household income of $66,224. The population has experienced 4.28% growth from 2020-2024 with 7.18% growth expected to continue through 2029.
Exclusively Listed By
Auction Advisors
Broker of Record
-
Brian Hosey
Senior Vice President/Division Manager