1016 Devore Ln - Garden Center FOR SALE


Matthews, NC 28105
$4,960,000 USD
828-216-5101
1016 Devore Ln, Matthews, NC for Sale
$4,960,000 USD
Garden Center - FOR SALE
1/4
null | Request Cap Rate

1016 Devore Ln
Matthews, NC 28105


OVERVIEW

Outstanding investment opportunity in the retail hub of Matthews. The tenant, Pike's Nursery, is a national chain with the parent organization 135 years old. The absolute net lease has 11 years remaining on the first term, with multiple additional option periods. The structure was build in 2016. In March, 2027, the rent will increase by 10%, creating a capitalization rate of 6.5%. This property is located within a few minutes of virtually every retailer of note and 4,000 apartment units.

FOR SALE DETAILS

PRICE

$4,960,000 USD

PRICE/SF

$493 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Pike Nursery

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Garden Center

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2016

SPRINKLERS

-

PARKING SPACES

62

LAND DETAILS

LAND ACRES

4.15 AC

LAND SF

180,774 SF

ZONING

O(CD)

APN/PARCEL ID

193-521-10

ASK ABOUT THIS PROPERTY

Terry PetersonNAI Beverly-HanksMore Info
828-216-5101

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Terry PetersonNAI Beverly-HanksMore Info
828-216-5101

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