Big Stone Gap, VA - Taco Bell

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, Taco Bell investment property located in Big Stone Gap, Virginia. The tenant, Taco Bell, recently signed a brand-new, 25-year lease with 6 (5-year) options to extend, demonstrating their commitment to the site. The lease features 1% annual rental increases throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor.

The Taco Bell is located near the corner intersection of Gilley Avenue and Orby Cantrell Highway, combining to roughly 32,900 vehicles passing by daily. Gilley Avenue, is a major retail thoroughfare serving the city of Big Stone Gap. The Taco Bell is located less than a mile from downtown and is within walking distance to Mountain Empire Community College, which as of 2024 has 2,684 students enrolled. The asset is located less than 1-Mile from a 50,000+ square foot Food City supermarket that has other nearby national/credit tenants including a Hardee’s, CVS, Family Dollar, Truist Bank, Starbucks, and more. The property is in the center of a primary retail corridor with other nearby national/credit tenants including a Subway, McDonald’s, Dollar Tree, Dairy Queen, O’Reilly Auto Parts, and more, further increasing consumer traffic to the site. The subject property is located 1-Mile from Lonesome Pine Hospital (109 Beds), the largest medical facility serving more than 13,225 patients daily in the Big Stone Gap area. The 5-mile trade area is supported by a population of over 10,980 and 7,488 employees with an average household income of $69,052.