5206 Carolina Beach Rd - Freestanding FOR SALE
Wilmington, NC 28412 |
5206 Carolina Beach Rd
Wilmington, NC 28412
HIGHLIGHTS
- Long Term Tenant - Advance Auto has been successfully operating at this location for over 20 years and recently extended for an additional 5 years
- Below Market Rent - Advance Auto is currently paying below market rents, giving a potential investor the opportunity to easily backfill the property
- Strong Corporate Guarantee - Advance Auto Parts has over 5,200 locations and generated over $10b in revenue in 2020
- E-Commerce & Pandemic Resistant Tenant - Consumers have shifted toward personal mobility over public and shared transportation due to COVID
- Huge Rent Increase During Option Periods - AAP will realize a rent increase of almost 25% in their first option | 13% rent increase in option 2
- Excellent Visibility on Heavily Trafficked Road - Carolina Beach Rd realizes 28,500 VPD | S College Rd realizes 31,000 VPD
FOR SALE DETAILS
PRICE
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CAP RATE
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% LEASED
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TENANCY
-
BUILDING DETAILS
PROPERTY NAME
Advance Auto Parts
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Freestanding
ADD'L SUBTYPES
Auto Repair, Storefront
TOTAL BUILDING SIZE
7000
STORIES
1
YEAR BUILT
2001
SPRINKLERS
-
PARKING SPACES
40
LAND DETAILS
LAND ACRES
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LAND SF
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ZONING
-
APN/PARCEL ID
R07600-006-052-000
