603 W Broad St - Freestanding FOR SALE


Elizabethtown, NC 28337
$795,000 USD
980-498-3293
603 W Broad St, Elizabethtown, NC for Sale
$795,000 USD
Freestanding - FOR SALE
1/5
null | 7.25% Cap Rate

603 W Broad St
Elizabethtown, NC 28337


HIGHLIGHTS

  • LONG OPERATING HISTORY WITH RECENT EXTENSION
  • LOW RENT WITH EXTREMELY HEALTHY RENT-TO-SALES
  • NEARBY MARKET DRIVERS

OVERVIEW

LOW RENT WITH EXTREMELY HEALTHY RENT-TO-SALES - 10 Year NN Lease - One (1) - five year option with a rent increase of 30.8% - Minimal LL responsibilities - Tenant is paying below market rent which allows for a 4.87% rent-to-sales ratio 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 POSITIONED IN A DENSE RETAIL NODE - Within a 1-mile radius of the site is more than 784K SF of retail space - Nearby national retailers include: Walmart, Tractor Supply Co., Shoe Show, Rent-A-Center, Food Lion, and more SYNERGIES WILL LOCAL AUTO PARTS STORES - STRONG PLACER.AI REPORT - This Advance Auto Parts store ranks in the top 71% of all auto parts stores in the state of North Carolina LONG OPERATING HISTORY WITH RECENT EXTENSION - Tenant has been operating at this location for over 30 years - Tenant recently signed a 10 year extension, showing commitment to the site NEARBY MARKET DRIVERS - Located under 1 mile from the site is the Bladen County Hospital with over 48 beds and more than 50 employees - Just 1.3 miles northwest of the site is the Specialty Product Technology factory which employs more than 250 people

FOR SALE DETAILS

PRICE

$795,000 USD

PRICE/SF

$133 USD /SF

CAP RATE

7.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Advance Auto Parts

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Auto Repair, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1991

SPRINKLERS

-

PARKING SPACES

25

LAND DETAILS

LAND ACRES

0.42 AC

LAND SF

18,295 SF

ZONING

-

APN/PARCEL ID

131219605603

ASK ABOUT THIS PROPERTY

David HoppeAtlantic Capital PartnersMore Info
980-498-3293

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David HoppeAtlantic Capital PartnersMore Info
980-498-3293

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