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.

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Risks & Disclosures

All offerings shown are Regulation D Rule 506c offerings.

This material has been prepared for accredited investors (generally described as having a net worth of over $1 million dollars exclusive of primary residence) and accredited entities only. If you are unsure if you are an accredited investor and/or an accredited entity, please verify with your CPA and Attorney prior to considering an investment.

The information herein has been prepared for educational purposes only and does not constitute an offer to purchase securitie or real estate investments. Such offers are only made through the sponsors Private Placement Memorandum (PPM) which is solely available to accredited investors and accredited entities.

IRC Section 1031, IRC Section 1033 and IRC Section 721 are complex tax concepts, therefore you should consult your legal or tax professional regarding the specifics of your particular situation prior to considering an investment.

This material is not to be interpreted as tax or legal advice. Please speak with your own tax and legal advisors for advice/guidance regarding your particular situation.

There are risks associated with investing in real estate and Delaware Statutory Trust (DST) properties including, but not limited to, loss of entire investment principal, declining market values, tenant vacancies and illiquidity.

Investors should read the PPM carefully before investing paying special attention to the risk section.

Because investors situations and objectives vary this information is not intended to indicate suitability for any particular investor. Please speak with your CPA and Attorney to determine if an investment in real estate and DST properties is suitable for your particular situation/circumstances.

Past performance is not indicative of future returns.

Potential cash flows/returns/appreciation are not guaranteed and could be lower than anticipated.

There are significant limitations on the ability to sell or transfer interests.

Expected cash flows and returns may not be realized and a loss of invested capital is possible.

The Sponsor, Co-Sponsor, Master Tenant, Trustee & Affiliates will all receive substantial fees relating to the syndication, ongoing management and disposition of this offering.

Securities offered through FNEX Capital, member FINRASIPC.

There are important risks specific to each tenant and their respective leases, including expiration dates, early termination options, renewal options and economics relating to rents paid and expense reimbursements. Should a tenant fail to meet their obligations, terminate early or fail to renew their lease it could have a material negative impact on the financial performance of this property.