INVESTMENT OVERVIEW:
Price: $3,658,372
CAP Rate: 7.25%
Current Rent: $241,120
2018 Rent: $265,232
Square-Footage: 13,776
Market: Charlotte
INVESTMENT HIGHLIGHTS:
- Absolute NNN Lease
- Corporate Guarantee
- Excellent Investment Opportunity
- Long Term NNN Lease
- Trophy Location
- Zero Landlord Obligations
PROPERTY INFORMATION:
This is a long term NNN leased Rite Aid opportunity. The property is subject to a net lease with 11 years remaining on the initial term. The lease is flat in the initial term with a 10% every 10 years and in option period. There are eight 5-year renewal options beyond the initial term. The property is well-situated on a major retail corridor surrounded by national retailers including ALDI, JCPenny, and McDonald’s.
LOCATION INFORMATION:
Albemarle, North Carolina has all of the ingredients needed to ensure business success. This charming small City of approximately 16,000 people provides for a quality of life and a business friendly environment that few places can equal. Albemarle is located less than an hour’s drive from the major cities of Charlotte and Greensboro, and the world famous golf resort of Pinehurst. The climate of south central North Carolina offers the beauty of changing seasons while being moderate enough to enjoy the outdoors year round. It boasts a large trainable work force with a strong work ethic and loyalty to employers. Business and industry have thrived in this community for over a century, and continue to do so to this day.
| Price: | $3,658,372 |
| City: | Albemarle |
| State: | NC |
| Zip Code: | 28001 |
