Harrisonburg, VA - Faded Tobacco & Vape

Description:

• The tenant, Faded Tobacco & Vape, has operated at this location since July 2022 and has 2+ years remaining of firm term on their lease
• The lease features 3% annual rental increases, generating NOI and providing a hedge against inflation
• Tenant is currently paying below market rent
• Tenant pays for CAM, taxes, insurance and maintains all aspects of the premises
• No landlord responsibilities
• Ideal, management-free investment for an out-of-state, passive investor

• The asset is located at the signalized, hard corner intersection of Mt Clinton Pike and Virginia Ave averaging 27,700 VPD
• The asset has excellent visibility and multiple points of ingress/egress
• The site is equipped with a drive-thru
• More than 66,000 residents and 46,000 employees support the trade area
• $82,205 average household income
• Located 1.5 miles from Downtown Harrisonburg, across from East Mennonite University (958-students), and 1.9 miles from James Madison University (21,000-students)