2904 Arendell St - Freestanding FOR SALE


Morehead City, NC 28557
$2,458,000 USD
480-221-4221
2904 Arendell St, Morehead City, NC for Sale
$2,458,000 USD
Freestanding - FOR SALE
1/10
null | 7% Cap Rate

2904 Arendell St
Morehead City, NC 28557


HIGHLIGHTS

  • 10 Years Remaining | Options To Extend | Scheduled Rental Increases
  • NN Lease | Fee Simple Ownership | Limited Landlord Responsibilities
  • Arendell St (30,000 VPD) | Outparcel to Morehead Plaza
  • Strong Demographics In 5-Mile Trade Area

OVERVIEW

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an NN leased, Dollar Tree investment property located in Morehead City, North Carolina. The tenant, Dollar Tree Stores, Inc., has approximately 10 years remaining lease with 3 (5-year) options to extend and converted this store from a Family Dollar to a Dollar Tree, demonstrating their commitment to the site. The lease features flat rent in the initial term and approximately 4% rental increases at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is NN with limited landlord responsibilities making it an ideal, low-management investment opportunity for a passive investor.

FOR SALE DETAILS

PRICE

$2,458,000 USD

PRICE/SF

$178 USD /SF

CAP RATE

7%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Dollar Tree | 10yrs Remain Corp NN w/ Incrs

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Supermarket

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2004

SPRINKLERS

-

PARKING SPACES

68

LAND DETAILS

LAND ACRES

0.94 AC

LAND SF

40,946 SF

ZONING

Commercial

APN/PARCEL ID

6376.20.82.0276000

ASK ABOUT THIS PROPERTY

Patrick LutherSRS National Net LeaseMore Info
480-221-4221

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Patrick LutherSRS National Net LeaseMore Info
480-221-4221

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