For Sale
Industrial Single Tenant Investment Opportunity
601 North West Avenue Blackstone Virginia 23824
Asking$1,900,000
For Sale
601 North West Avenue Blackstone Virginia 23824
This single-tenant, long term lease investment opportunity is a chance for an investor to own a strong cash flowing building with annual market increases.
The current lease with JKOZ Engineering, a custom seal and gasket company for the defense and aerospace industry, has been in place for over two years. The well located building just off route 460 is approximately 47,100 SF and has four loading docks, and four drive-in doors.
Due to the continued healthy demand, the industrial market in Central Virginia area is very strong. Rental rates have grown significantly in recent years and are still extremely stout. Blackstone is well located on route 460 with easy access to Petersburg, Richmond and Raleigh, NC, making it an excellent distribution location for the entire East Coast.
601 North West Avenue has an Absolute Net Lease structure with tenant responsible for all real estate taxes, building insurance, utilities and maintenance. The buyer of this property will be able to secure a robust return with very little management headaches.
ABOUT BLACKSTONE, VA
The small town of Blackstone sits in Southside Virginia, adjacent to the Virginia National Guard installation at Fort Pickett. In town, the community offers a quaint Main Street bustling with local businesses, a rarity for the region. It has shopping, dining and doctor’s offices. Blackstone offers small-town charm and a true downtown feel while still providing the amenities most people want.
Main Street is the primary commercial corridor through Blackstone, and the downtown area has been recognized by Main Street America and the Virginia Main Street program. The storefronts maintain a classic, all-American look, with traditional streetlights and minimal overhead clutter, reflecting the pride local business owners take in the area. Local staples include the Brew House, known for its burger combos, and diner-style favorites at Mitchell’s Restaurant. The Inn at Blackstone recently opened as a new boutique hotel, providing a hub for visitors near downtown. A shopping center at the south end of Main Street includes a Food Lion, with a Walmart Supercenter just around the corner.
Ken Campbell is a commercial real estate veteran who brought over twenty-five years of transaction experience to his role as a broker at One South Commercial in 2019. Ken is highly experienced in transactions locally and across North America. His expertise spans the commercial real estate spectrum with most of this work occurring in the office and industrial sectors, and he obtained an MBA with a concentration in real estate and urban land development from VCU.
Ken has represented both tenants and landlords across the country since he transitioned from in-house corporate real estate to brokerage over ten years ago. He has worked with a wide range of clients from individuals to Fortune 500 companies. Ken’s experience and knowledge provide his clients with a tremendous advantage in real estate transactions and make him a trusted and dependable partner.
Tom Rosman has been brokering investment real estate since the early 1990’s in the Richmond, VA, metro area. He has brought hundreds of transactions to a successful conclusion, including large apartment complexes, apartment buildings in historic neighborhoods, office buildings, retail properties, mixed use buildings, and numerous historic adaptive reuse properties.
Tom was one of the first brokers to recognize the transformative changes occurring in many of Richmond’s most architecturally significant but ignored neighborhoods. Having helped place many of the warehouses and other commercial structures in the hands of Richmond’s development community, Tom’s belief in what a property should be was never compromised by the condition it was in.
DISCLAIMER: This offering memorandum is intended as a reference for prospective purchasers in the evaluation of the property and its suitability for investment. Neither One South Commercial nor Seller make any representations or warranties with respect to the accuracy or completeness of the materials contained in the offering memorandum. Prospective purchasers should evaluate the property independently and rely solely on such independent evaluation in determining whether to purchase the property. The offering memorandum, pricing, and terms therein are subject to change or withdrawal at the discretion of Seller and One South Commercial, as Seller’s exclusive representative. *Information provided deemed reliable but not guaranteed