Little Caesars

Collinsville, VA

Price $1,227,000
Cap Rate 6.00%
TYPE Single-Tenant
STATUS Available
Tenant Little Caesars
LEASE TYPE Absolute NNN
SQUARE FEET 1,712
PRICE/SQ FT $741
YEAR BUILT 2006 | Interior – 2018 | Exterior - 2019
LEASE EXP. 01/31/2029
LISTING AGENT Justin Zahn
480-718-5555
justin@ciadvisor.com
Gillian Greenfield, CCIM, Greenfield & Craun Commercial
Virginia Local Broker #225064152

Property Description

Little Caesars has a 10 year Absolute NNN least with attractive 10% rental escalations every 5 years and three 5-year renewal options. The tenant, Aces, LLC is one of the Largest Little Caesars Pizza franchises in the country, owning and operating 21 locations throughout southwest Virginia. The subject location is slated for exterior renovation in 2019 (est. cost of +$30,000) with new LED signage, façade, paint – full interior remodeled in 2018. Little Caesars has been successfully open and operating for over 10 years with an attractive rent to sales ratio!

Little Caesars is located in Collinsville, Virginia on the main north/south thoroughfare with excellent driveby visibility. Nearby retailers include: Save-A-Lot, Family Dollar, Dollar General Market, Walgreens, CVS Pharmacy, Aaron’s, O’Reilly Auto Parts, Advance Auto Parts, AutoZone, Salvation Army Thrift Store, Walmart Supercenter & Lowe’s Home Improvement. This asset is 4.5 miles from Patrick Henry Community College (PHCC) Martinsville (enrollment of 2,900).

In Association with Virginia Local Broker: Gillian Greenfield, Greenfield & Craun Commercial #225064152

Property Highlights

  • 10 Years Absolute NNN Lease with Attractive 10% Rental Escalations every 5 Years
  • Slated for Exterior Renovation in 2019 (Est. Cost ±30,000) with New LED Signage, Façade, Paint – Full Interior Remodeled in 2018
  • Demographics: Total Population (5-MI): 28,716 | Avg HH Income (1-MI): $56,359
  • ACES, LLC is One of the Largest Little Caesars Pizza Franchises in the Country, Owning & Operating 21 Locations Throughout Southwest Virginia
  • Successfully Open & Operating for Over 10 Years with an Attractive Rent to Sales Ratio!
  • Great Drive-By Visibility on Main North/South Thoroughfare where Traffic Counts Exceed 19,000 CPD