Single Tenant Net Lease
For Sale
$1,287,000
1102 E Church St, Cherryville, NC 28021
Single-tenant net lease property occupied by AutoZone with landlord responsibility limited to roof, structure, and major parking lot replacement.
Property Size6,786 SF
Days on Market146
Property Features for 1102 E Church St
General Information
Standard status
Active
Size
6,786 SF
Property subtype
Retail
Net Operating Income
$77,220
Building Details
Building Size
6,786 SF
Year Built
2007
Tenancy
Single
Listed By:
Scott De Young · License #CalDRE #01889050
(949) 933-7958
Source:
Farislee
Added: Jun 4
Changed: Oct 25
Last Checked: Oct 26 at 2:09PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Scott De Young
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Investment Insights
Based on property information with market context.
The property is a single-tenant net lease building occupied by AutoZone. The lease structure places day-to-day property obligations with the tenant, including property taxes, insurance, utilities, landscaping, HVAC, and routine maintenance. Landlord responsibilities are limited to the roof, structure, and major parking lot replacement.
The offering includes fee-simple ownership at 1102 E Church Street in Cherryville, North Carolina, presented for sale with a focus on corporate lease-backed income. The broker remarks that the transaction is supported by an exceptionally strong corporate guarantee and highlights tax planning considerations tied to accelerated depreciation and cost segregation.
AutoZone is described in the materials as operating since 1979 and as the largest auto parts retailer in the U.S., with an S&P “BBB Stable” investment-grade credit rating (per the provided remarks).
The offering includes fee-simple ownership at 1102 E Church Street in Cherryville, North Carolina, presented for sale with a focus on corporate lease-backed income. The broker remarks that the transaction is supported by an exceptionally strong corporate guarantee and highlights tax planning considerations tied to accelerated depreciation and cost segregation.
AutoZone is described in the materials as operating since 1979 and as the largest auto parts retailer in the U.S., with an S&P “BBB Stable” investment-grade credit rating (per the provided remarks).
Key Highlights
- Single‑tenant net lease property occupied by AutoZone, with corporate lease structure and fee‑simple building ownership.
- Landlord responsibilities limited to roof, structure, and major parking lot replacement; tenant handles property taxes, insurance, utilities, landscaping, HVAC, and day‑to‑day maintenance.
- Built in 2007 and located at 1102 E Church Street.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$83,309
Cap Rate
6.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,666,180
$1.7M
Cap Rate 7%
$1,190,129
$1.2M
Cap Rate 9%
$925,656
$925.7K
Market Conditions
NOI Build-Up for 6,786 SF
Gross rent
$128.7K $18.96/SF
− Vacancy
−$9.6K −$1.42/SF
EGI
$119.0K $17.54/SF
− OpEx
−$35.7K −$5.26/SF
NOI
$83.3K $12.28/SF
Area
Gaston County, NC
Vacancy
7.50%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,666,180
Cap Rate 7%
$1,190,129
Cap Rate 9%
$925,656
Alternative Uses
Best Use
Retail
$1.19M
$1.04M – $1.39M
NOI $83,309 @ 7.0% cap · market cap 6.47%
Second Best
Industrial
$638.7K
$558.9K – $745.2K
NOI $44,710 @ 7.0% cap · market cap 3.47%
Theoretical Best
Office A
$2.14M
$1.87M – $2.49M
NOI $149,509 @ 7.0% cap · market cap 11.62%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
166
Businesses Nearby
86k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 71%
Shops & Services 29%
McDonald's
Dining
26,899 visits/mo
0.3 miles
Bojangles' Famous Chicken 'n Biscuits
Dining
14,640 visits/mo
0.1 miles
Dollar General
Shops & Services
9,737 visits/mo
0.4 miles
Burger King
Dining
8,298 visits/mo
0.1 miles
KFC
Dining
6,649 visits/mo
0.1 miles
Demographics for 28021, NC
13,669
Population
6,306
Households
2.2
Avg Household Size
44
Median Age
22%
College-Educated
89%
High-School Grad
58.8 sq mi
ZIP Area
232
Density / Sq Mi
$57,652
Median Household Income
$37,703
Median Earnings
$874
Median Rent
$196,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Similar Off Market Nearby
- Main Street Tire & Lube — 300 E Main St, Cherryville, NC 28021
- Brunner's Automotive — 319 E Main St, Cherryville, NC 28021
- Alray Tire Center of Cherryville — 401 E Main St, Cherryville, NC 28021
- Semi Truck & Trailer Towing Repair Tires — 680 e main st, cherryville, nc 28021
- Dunlop Tires — Cherryville, NC 28021
Frequently Asked Questions
What type of property is this?
Auto shop - Single-tenant net lease property occupied by AutoZone with landlord responsibility limited to roof, structure, and major parking lot replacement.
Where is this auto shop located?
The property is located at 1102 E Church St Cherryville, NC.
What is the asking price?
The asking price for this property is $1,287,000.
What are key features of this property?
This property features: Single‑tenant net lease property occupied by AutoZone, with corporate lease structure and fee‑simple building ownership.; Landlord responsibilities limited to roof, structure, and major parking lot replacement; tenant handles property taxes, insurance, utilities, landscaping, HVAC, and day‑to‑day maintenance.; Built in 2007 and located at 1102 E Church Street.
