Royal Farms - Martinsburg WV
Retail | 5.05% CAP
Marketing description
We are pleased to present the exclusive opportunity to purchase a Royal Farms ground lease located at 29 Grapevine Road in Martinsburg, West Virginia (“the Property”). The fuel service (gas and high-flow diesel) station and convenience store was constructed in 2021 and has 14+ years remaining on their Absolute NNN Ground Lease with two (2), 10-year renewal options. The lease calls for an attractive 10% rent increase every five years throughout the primary lease term and renewal options.
Royal Farms is extremely well located at the signalized intersection of Grapevine Road and Charles Town Road (WV Route 9), the area’s primary commercial and commuter corridor. The Property enjoys outstanding frontage, visibility and access and is 2-miles from Interstate 81 and 1.5-miles from US Route 11 providing efficient connectivity throughout Martinsburg and the surrounding Eastern Panhandle communities. Positioned along WV Route 9, Royal farms is perfectly positioned to capture business from passing commuters heading into and out of Downtown Martinsburg. The Property is close to residential neighborhoods and area schools that provide a captive customer base and enjoys convenient access to the Martinsburg VA Medical Center and several large employers, all of which drive traffic to the immediate area.
Martinsburg is a historic and fast-growing city located in the Eastern Panhandle of West Virginia, approximately 80 miles northwest of Washington, D.C. As the county seat of Berkeley County, Martinsburg serves as an important regional hub for commerce, transportation, healthcare, and government services.
Investment highlights
- SIGNIFICANT TENANT INVESTMENT: Tenant funded all entitlements, site work, and construction. High basis reduces relocation risk and demonstrates long-term commitment.
- LONG-TERM GROUND LEASE: The Royal Farms corporate ground lease has 14+ years remaining on their Absolute NNN Ground Lease with two (2), 10-year renewal options.
- ATTRACTIVE RENT INCREASES: The ground lease features an attractive 10.0% rent increase every five years throughout the primary lease term and the renewal option periods, providing the investor with an attractive hedge against inflation.
- CORPORATE LEASE: Royal Farms convenience stores are one of the most sought-after triple net lease investment properties in the market today due to their strong corporate backing and excellent underlying real estate fundamentals. Royal Farms operates over 300 locations across seven states in the Mid-Atlantic region of the United States.
- ZERO LANDLORD RESPONSIBILITIES: The Royal Farms ground lease requires zero landlord responsibilities. The tenant is solely responsible for all service, maintenance, and repairs, making it an attractive investment for the passive real estate investor.
- DIVERSIFIED REVENUE WITH DIESEL & DEF PUMPS: High-flow diesel and DEF pumps capture commercial and truck traffic, which expands revenue streams beyond traditional fuel service and convenience retail.
- BEER & WINE SALES DRIVE ADDITIONAL REVENUE: Licensed for beer and wine, creating a high-margin revenue stream, expanding the customer base beyond traditional fuel and convenience users.
- STRATEGIC RETAIL LOCATION: Situated at the signalized intersection of Grapevine Road and Charles Town Road (WV Route 9), Royal Farms benefits from a highly visible location along one of Martinsburg's primary commercial and commuter corridors. The Property offers excellent frontage, accessibility, and traffic exposure, while also providing convenient regional connectivity via Interstate 81, located approximately two miles away, and US Route 11, just 1.5 miles from the site. Its position along WV Route 9 allows the Property to capture significant commuter traffic traveling to and from Downtown Martinsburg and surrounding Eastern Panhandle communities. In addition, the surrounding area is supported by nearby residential neighborhoods, schools, major employers, and convenient access to the Martinsburg VA Medical Center, all of which contribute to consistent daily traffic and a strong built-in customer base.
- TRAFFIC COUNTS: More than 40,000 vehicles per day pass the Property at the signalized intersection of Charles Town Road (WV Route 9) and Grapevine Road.
- DEMOGRAPHICS: Over 39,800 people live within 3-miles of the Property with an average household income of $84,706. More than 64,200 people live within 5-miles of the Property with an average household income of $92,103.
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