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Vacant-User

Teays Valley Cinemas

170 Erskine Ln, Teays Valley, WV 25560

Listing Price: $5,500,000

Cap Rate
7.34%
Gross SF
40,388
Rentable SF
40,388
Price/Gross SF
$136.18
Lot Size
6.00 acres
Year Built
2004

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire fee simple interest in the Teays Valley Cinemas redevelopment site, a 40,388 square-foot movie theater on 6 acres of land in Scott Depot, Putnam County, West Virginia. The existing building was constructed in 2004, is fully sprinklered and has ample parking with approximately 450 spaces. The current tenant, Teays Valley Cinemas, is willing to sign a short-term leaseback with a new owner or will vacate immediately. Located approximately 25 miles from the downtown Charleston business district, Putnam County is considered part of the greater Charleston MSA and the population of the city as of 2019 was approximately 56,000 residents. The subject property is situated at the Winfield interchange of Interstate-64 and experiences approximately 44,000 vehicles per day in traffic. The Winfield interchange has been the site of the most intensive commercial development in Putnam County including anchored and unanchored shopping centers, fast food restaurants, banks, office and retail buildings, auto service stations, and other facilities. National retailers located in proximity to the subject property include Kroger, The Home Depot, McDonald’s, Taco Bell, AutoZone, Panera Bread, Petco, Dollar Tree, Applebee’s, Burger King, Walgreens, Papa John’s, and many more.

Investment Highlights

  • PRIME REDEVELOPMENT OPPORTUNITY IN EMERGING MARKET
  • BUSINESS-FRIENDLY SUBMARKET WITH NO B&O OR CITY TAX
  • IDEAL FOR RETAIL OR FLEX/INDUSTRIAL ADAPTIVE REUSE WITH 40,000+ SF EXISTING BUILDING
  • OWNER WILLING TO DO A SHORT-TERM LEASEBACK, PROVIDING IN-PLACE INCOME FOR NEW OWNER
  • OFFERED WELL BELOW 2020 REPLACEMENT COST

Exclusively Listed By

Broker of Record

  • Francis McGuire

    Broker Of Record

    (304) 751-6577

    License(s) WV0019009

    West Virginia

Listing Price: $5,500,000

Cap Rate
7.34%
Gross SF
40,388
Rentable SF
40,388
Price/Gross SF
$136.18
Lot Size
6.00 acres
Year Built
2004

Investment Highlights

  • PRIME REDEVELOPMENT OPPORTUNITY IN EMERGING MARKET
  • BUSINESS-FRIENDLY SUBMARKET WITH NO B&O OR CITY TAX
  • IDEAL FOR RETAIL OR FLEX/INDUSTRIAL ADAPTIVE REUSE WITH 40,000+ SF EXISTING BUILDING
  • OWNER WILLING TO DO A SHORT-TERM LEASEBACK, PROVIDING IN-PLACE INCOME FOR NEW OWNER
  • OFFERED WELL BELOW 2020 REPLACEMENT COST

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire fee simple interest in the Teays Valley Cinemas redevelopment site, a 40,388 square-foot movie theater on 6 acres of land in Scott Depot, Putnam County, West Virginia. The existing building was constructed in 2004, is fully sprinklered and has ample parking with approximately 450 spaces. The current tenant, Teays Valley Cinemas, is willing to sign a short-term leaseback with a new owner or will vacate immediately. Located approximately 25 miles from the downtown Charleston business district, Putnam County is considered part of the greater Charleston MSA and the population of the city as of 2019 was approximately 56,000 residents. The subject property is situated at the Winfield interchange of Interstate-64 and experiences approximately 44,000 vehicles per day in traffic. The Winfield interchange has been the site of the most intensive commercial development in Putnam County including anchored and unanchored shopping centers, fast food restaurants, banks, office and retail buildings, auto service stations, and other facilities. National retailers located in proximity to the subject property include Kroger, The Home Depot, McDonald’s, Taco Bell, AutoZone, Panera Bread, Petco, Dollar Tree, Applebee’s, Burger King, Walgreens, Papa John’s, and many more.

Exclusively Listed By

Broker of Record

  • Francis McGuire

    Broker Of Record

    (304) 751-6577

    License(s): WV0019009

    West Virginia

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