505 W State St - Freestanding FOR SALE


Black Mountain, NC 28711
$975,000 USD
631-572-1428
505 W State St, Black Mountain, NC for Sale
$975,000 USD
Freestanding - FOR SALE
1/6
null | 6.26% Cap Rate

505 W State St
Black Mountain, NC 28711


HIGHLIGHTS

  • A new roof was installed in 2023
  • Parking Lot was recently resealed
  • The lease is guaranteed by O'Reilly Auto Parts (ORLY) with a Moody's rating of Baa1
  • Strong demographics with over 14,00 people in a 3 mile radius

OVERVIEW

Discover this exceptional single-tenant net lease investment featuring a creditworthy O'Reilly Auto Parts (NASDAQ: ORLY) location at 507 W State St, Black Mountain, NC 28711. Priced at $975,000 with a solid 6.25% CAP rate, the property delivers $61,056 in annual rent under a long-term NN lease (tenant responsible for roof, structure, and parking lot maintenance). The current lease expires in May 2030, with three (3) five-year renewal options and built-in 6% rent increases every 5 years, providing reliable income growth and long-term stability. The 6,300 SF building sits on a 1.08-acre lot with strong visibility and high traffic counts along West State Street (US 70 corridor, approximately 8,253 vehicles per day), surrounded by national retailers like CVS, Ingles, Tractor Supply, Dollar General, and more—ensuring excellent exposure in a growing market near Asheville. Recent capital improvements include a new roof installed in 2023 and a recently resealed parking lot, minimizing near-term owner expenses. Backed by O'Reilly Auto Parts' investment-grade credit profile, including a Moody's Baa1 rating (investment-grade), this corporate-guaranteed lease offers low-risk, passive income with minimal management. As a true bite-size deal under $1M, it's ideal for 1031 exchange buyers, private investors, or portfolio diversification seekers looking for recession-resistant retail with a proven national tenant in the essential automotive aftermarket sector. Don't miss this turnkey opportunity in a vibrant Western North Carolina location! Contact listing agent for full details, financials, and offering memorandum.

FOR SALE DETAILS

PRICE

$975,000 USD

PRICE/SF

$155 USD /SF

CAP RATE

6.26%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1977

SPRINKLERS

-

PARKING SPACES

30

LAND DETAILS

LAND ACRES

1.08 AC

LAND SF

47,045 SF

ZONING

C-2

APN/PARCEL ID

0619-04-9437-00000

ASK ABOUT THIS PROPERTY

Nicolas AnzaloneSilber Investment Properties, LTDMore Info
631-572-1428

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Nicolas AnzaloneSilber Investment Properties, LTDMore Info
631-572-1428

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