1901 S Glenburnie Rd - Auto Repair FOR SALE


New Bern, NC 28562
$2,520,000 USD
704-697-1900
1901 S Glenburnie Rd, New Bern, NC for Sale
$2,520,000 USD
Auto Repair - FOR SALE
1/5
null | 6.35% Cap Rate

1901 S Glenburnie Rd
New Bern, NC 28562


HIGHLIGHTS

  • Rare Abs. NNN Lease
  • Long Operating History with Low Rent
  • Corporate Guaranty from Credit Tenant

OVERVIEW

Corporate Guaranty from Strong Credit Tenant - Advance Auto Parts is a publicly traded company (NYSE: AAP) with a market cap. of $3.9B and annual revenue of $11.28B - Credit Rating: S&P BBB- Long Operating History with Recent Extensions - Tenant has been operating at this location for almost 15 years - Tenant recently signed a 10 year extension, showing commitment to the site Rare Abs. NNN Lease Structure - 10 Year Abs. NNN Lease - Six (6) - five (5) year options - Zero LL responsibility Highly Accessible Location - Located on S. Glenburnie Rd (20,000 VPD) with two points of ingress and egress and turn lane into the site Good Visibility on Retail Corridor - More than 20K cars travel on S. Glenburnie Rd - Over 2.5MSF of retail is located in a 1-mile radius - Nearby national tenants include: Target, Publix, HomeGoods, Five Below, Academy Sports, and Hobby Lobby Below Market Rents - Current tenant is paying approximately 40% below market rent - Low rent allows for next owner to “mark-to-market” rents and increase in NOI

FOR SALE DETAILS

PRICE

$2,520,000 USD

PRICE/SF

$140 USD /SF

CAP RATE

6.35%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Advance Auto Parts

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Auto Repair

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1998

SPRINKLERS

-

PARKING SPACES

50

LAND DETAILS

LAND ACRES

1 AC

LAND SF

43,560 SF

ZONING

NC4

APN/PARCEL ID

8-208-053

ASK ABOUT THIS PROPERTY

David HoppeAtlantic Capital PartnersMore Info
704-697-1900

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David HoppeAtlantic Capital PartnersMore Info
704-697-1900

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.