Pinnacle Bank – Archdale NC
113 Trindale Road, Archdale, NC, 27263, US
SEK 24,421,000 | 483 m²
Description
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the fee simple interest in an Advance Auto Parts located at 505 South Main Street, Lexington, North Carolina (“Property” or “Asset”). Advance Auto Parts is operating on an NN lease with limited landlord responsibilities, including 3.7 years of remaining term and one, five-year renewal option with a 5% rent escalation. The tenant's commitment to the location is demonstrated by their 21-year operational history at the site and their current position in their second renewal option.
This offering presents investors with an exceptional opportunity to acquire an asset providing secure cash flow, backed by a leading national automotive parts retailer.
Broker of Record: Pete Pittroff License #: 23027
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Attributes
Asking price
SEK 15,999,000
NOI
SEK 1,176,000
Cap rate
7.35%
Lease type
Net lease (N/NN/NNN)
Remaining lease term
3.7 years
Year built
2004
Building area net
650 m²
Media
Investment Highlights
- Strong tenancy with 4,300+ locations nationwide
- 21+ Years of operational history
- Rental escalations every 5-years
- Minimal landlord responsibilities
- Lexington's historically low retail vacancy rate 1.2%
- 30% Rent growth in the Lexington retail market since 2020
- Population of ±40,000 within a 5-mile radius, demonstrating 7% growth since 2010
- 10% Daytime population increase within 5-miles
- Signalized intersection with direct accessibility to 13,000+ VPD
Contact brokers
Advance Auto - Lexington, NC (0 Properties)
