Cove Net Lease Distribution 66 DST
Richlands, VA
| Asset Class: | Single Tenant Net Lease |
| Leverage: | 0% - All-Cash/Debt-free |
| Location(s): | Richlands, VA |
| Minimum Investment: | $50,000 |
| Current Distribution: | Monthly/Inquire |
| Offering Type: | DST |
| 1031 Exchange Qualified: | Yes |
Property Description
Net Lease Distribution 66 DST is a newly built (2023) distribution warehouse that serves as a product exchange center Frito-Lay/PepsiCo and features a long-term 10-year net lease. This Frito-Lay facility is strategically located adjacent to Hwy 460 in Richland, allowing transportation to Charlotte, NC, Knoxville, TN, Lexington, KY, and Charleston, WV all within a separate 4-hour commute. The offering is an all-cash/debt-free DST investment with no risk of a lender foreclosure. In addition, all-cash/debt-free DSTs eliminate the risk of taking on equal or greater debt in future 1031 exchanges. This provides flexibility to hold through any potential market downturns, credit crunches, recessions and/or depressions.
MSA Details
In 2020, the Town of Richlands, Virginia, had a population of 5,311, with a median age of 48, and a median household income of $28,970. The median property value in Richlands, Virginia is approximately $93,200, with a home ownership rate of 65.5%. Most of the population drives alone, with a commute of 26.2 minutes. The Town is situated along the Clinch River, just east of the Tazewell-Russell county line. Cedar Bluff borders Richlands to the east, and the community Raven lies just to the west. U.S. Route 460 and Virginia State Route 67 both traverse Richlands. According to the United States Census Bureau, the town has a total area of 2.74 square miles, all land. Richlands is served by the Tazewell County Public School System. Schools in Richlands include: Richlands Elementary School, Richlands Middle School, and Richlands High School. It is served by Southwest Virginia Community College, which is located in nearby Wardell, Virginia. King University, based in Bristol, Tennessee, has a satellite campus at SWVCC.
Property Highlights
- All Cash/Debt-free, zero leverage DST offering for 1031 and direct cash investors
- Brand new construction (2023) / Functional Industrial
- Recessionary resistant tenant
- Corporate backed net Lease
- 721 Exchange rollup as a potential exit
- Product exchange center industrial facility for Frito-Lay/PepsiCo
Source: Brochure
The market information provided above may not predict the future performance of the property.
*Distribution is not guaranteed and is subject to available cash flow. For further information about cash flow distributions from operations and capital events, please refer to the offering’s Private Placement Memorandum.
