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13234 Hanover Courthouse Rd
Hanover, VA 23069

Retail Property For Sale

PROPERTY FACTS

Property Type
Retail
Building Size
6,400 SF
Building Class
C
Year Built
1998
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.20
Lot Size
0.74 AC
Zoning
B3
Parking
29 Spaces (4.6 Spaces per 1,000 SF Leased)
Frontage
187 FT on Hanover Courthouse Rd

About 13234 Hanover Courthouse Rd , Hanover, VA 23069

Popularly known as 301 Deli Express due its location along interstate route 301, this gas station- C store with Deli is beautiful standalone building on a .75 acreage lot of real estate cannot be missed by any traveler commuting along the route up and down Maryland. The current owner started the operation at very modest level when the economy was at its ebb but gradually over period of 12 years have become “to go” place for locals. They have earned the reputation of being the most reasonable store in the neighborhood. The most important characteristic of this store is that it is in the midst of government offices and drives its traffic from them along with residential neighborhood. The owners started the Deli operations in April 2017 with limited resources and lately has become popular due to its offering. However, due to constraints of manpower and inability of current owners to expand to its maximum potential has been a serious downside to revup. The overall sales of deli are not reflected in its 2016 returns. The new owner has tremendous growth potential in this area alone to maximize profits. Adding professional help and installing a pizza machine will greatly enhance revenue from current level. The c-store with inside sales of around $65K is a very profitable operation. The lottery purchases give it an additional boost of around $2000 monthly. At the time of this listing the gas sales were not maximized due to the current operators unable to lock in a contract. However, they are in process of negotiating it and once in place the gas sales are likely to increase to an impactable level, adding the much-needed impetus at the bottom line. The average gas sales are approx. 33K gallons per month. It also has seasonal Kerosene sale of about 6000 gallons with $0.60 as average profit per gallon which is an additional stream of revenue for the business. The 3200 sq. ft. of vacant first floor has self contained apartment with separate entrance is an added asset, which can be rented for additional income if needed. The main hall on the first floor is adequate for storage if required. The business has all the elements and ingredients to provide adequate return for investment. The business outlook in Hanover County in coming years and with dedicated ownership it could be a gold mine with real estate. Despite all the positive aspects there is real potential for growth in deli operations, expansion in c-store stocking and increase in gas sales. The rentable income from first floor vacant space is icing on the cake for the new ownership.

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
8800-94-8152
Land Assessment
$129,900
Improvements Assessment
$932,800
Total Assessment
$1,062,700
  • Listing ID: 14291750

  • Date on Market: 11/5/2018

  • Last Updated:

  • Address: 13234 Hanover Courthouse Rd, Hanover, VA 23069

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