9825 McKay Rd - Garden Center FOR SALE


Charlotte, NC 28269- Davis Lake-Eastfield
$7,301,000 USD
949-506-2009
9825 McKay Rd, Charlotte, NC for Sale
$7,301,000 USD
Garden Center - FOR SALE
1/9
null | 5.65% Cap Rate

9825 McKay Rd
Charlotte, NC 28269
Davis Lake-Eastfield


HIGHLIGHTS

  • 14 Years Remaining | 10% Increases Every 5 Years
  • Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
  • Strategic Charlotte Location | Interstate 485 Frontage (82,800 VPD)
  • Strong Retail Corridor | Surrounded by National Tenants
  • Adjacent to Major New Residential Growth | Prosperity Junction (270 Units) Under Construction Directly Across I-485
  • Growing 5-Mile Trade Area | Strong Population & Employment Base

OVERVIEW

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, Pike Nurseries investment property located in Charlotte, North Carolina. The tenant, Pike Nurseries has 14 years remaining on their lease with 2 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for an out of state investor.

FOR SALE DETAILS

PRICE

$7,301,000 USD

PRICE/SF

$202 USD /SF

CAP RATE

5.65%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Armstrong Gardens Corp Guaranty | 14yrs NNN

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Garden Center

ADD'L SUBTYPES

Freestanding, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2020

SPRINKLERS

-

PARKING SPACES

66

LAND DETAILS

LAND ACRES

2.32 AC

LAND SF

101,059 SF

ZONING

CC(CD)

APN/PARCEL ID

027-561-30

ASK ABOUT THIS PROPERTY

Calvin ShortSRS National Net LeaseMore Info
949-506-2009

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

Calvin ShortSRS National Net LeaseMore Info
949-506-2009

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