Single Tenant Net Lease
1102 E CHURCH ST Cherryville, NC 28021
1102 E CHURCH ST, Cherryville, NC, 28021
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For Sale
Contact for pricing
Single-tenant net lease property occupied by AutoZone with landlord responsibility limited to roof, structure, and major parking lot replacement.
Property Size6,786 SF
Price / SF$189.66
Days on Market51
Property Features for 1102 E CHURCH ST
General Information
- Standard status
- Active
- Size
- 6,786 SF
- Property subtype
- Retail
Building Details
- Year Built
- 2007
Listing agency
Faris Lee Investments
(949) 221-1810
Listed by
Jeff Conover · License #CA 01008195
Source
Crexi
Added: Jun 3 Updated: Jul 23 at 5:20AM Checked: Jul 23 at 5:20AM
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 Faris Lee Investments
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.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $128.7k | $18.96 |
| − Vacancy | −$9.6k | −$1.42 |
| EGI | $119.0k | $17.54 |
| − OpEx | −$35.7k | −$5.26 |
| NOI | $83.3k | $12.28 |
6,786 SF · lease $18.96/SF/yr · vacancy 7.50% · expense 30.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Auto shops
Similar For Sale Nearby
Similar Off Market Nearby
- Main Street Tire & Lube — 300 E Main St, Cherryville, NC 28021
- Semi Truck & Trailer Towing Repair Tires — 680 e main st, cherryville, nc 28021
- Alray Tire Center of Cherryville — 401 E Main St, Cherryville, NC 28021
- Brunner's Automotive — 319 E Main St, Cherryville, NC 28021
- Dunlop Tires — Cherryville, NC 28021
FAQs
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.
