Absolute NNN Automotive
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For Sale
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6625 East Independence Boulevard, Charlotte, NC 28212
Absolute net lease structure with a named automotive tenant and direct access from East Independence Boulevard.
Property Size7,006 SF
Price / SF$552.24
Days on Market6
Property Features for 6625 East Independence Boulevard
General Information
Standard status
Active
Size
7,006 SF
Property subtype
Retail
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$280,500
Site & Location
Traffic Count
58,600 vehicles/day
Road Access
Yes
Building Details
Year Built
2007
Year Renovated
2015
Tenancy
Single
Listing Agency:
Atlantic Capital Partners
(704) 375-7771
Listed By:
David Hoppe · License #NC 288268
Source:
Crexi
Added: Aug 6
Changed: Aug 11
Last Checked: Aug 11 at 5:13AM
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 Atlantic Capital Partners
Investment Insights
Based on property information with market context.
Built in 2007, this NNN property is leased to Adams Auto Group under an absolute net lease. The agreement has more than eight years remaining and includes one (1) five (5) year option period.
The property is located at 6625 East Independence Boulevard in Charlotte, North Carolina, with direct accessibility from East Independence Boulevard. The thoroughfare sees over 58,600 VPD, providing a clearly identified access point and measurable traffic exposure for the automotive property.
The property is located at 6625 East Independence Boulevard in Charlotte, North Carolina, with direct accessibility from East Independence Boulevard. The thoroughfare sees over 58,600 VPD, providing a clearly identified access point and measurable traffic exposure for the automotive property.
Key Highlights
- Absolute net lease with Adams Auto Group as the tenant
- 8+ years remaining on the current lease term
- Includes one (1) five (5) year option period
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$117,302
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.03%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,346,040
$2.3M
Cap Rate 7%
$1,675,743
$1.7M
Cap Rate 9%
$1,303,356
$1.3M
Market Conditions
NOI Build-Up for 7,006 SF
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.
Gross rent
$172.3K $24.60/SF
− Vacancy
−$4.8K −$0.68/SF
EGI
$167.6K $23.92/SF
− OpEx
−$50.3K −$7.18/SF
NOI
$117.3K $16.74/SF
Area
Charlotte, NC
Vacancy
2.77%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,346,040
Cap Rate 7%
$1,675,743
Cap Rate 9%
$1,303,356
Alternative Uses
Best Use
Retail
$1.68M
$1.47M – $1.96M
NOI $117,302 @ 7.0% cap · market cap 3.03%
Second Best
Industrial
$1.02M
$894.2K – $1.19M
NOI $71,533 @ 7.0% cap · market cap 1.85%
Theoretical Best
Office A
$2.33M
$2.04M – $2.72M
NOI $163,311 @ 7.0% cap · market cap 4.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
58,600 VPD
Traffic count
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
388
Businesses Nearby
30k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 57%
Dining 38%
Home Improvements & Furnishings 5%
Waffle House
Dining
8,781 visits/mo
0.1 miles
CubeSmart Self Storage
Shops & Services
4,524 visits/mo
0.5 miles
Hendrick Porsche
Shops & Services
3,010 visits/mo
0.2 miles
Enterprise Rent-A-Car
Shops & Services
2,868 visits/mo
0.1 miles
Papa John's Pizza
Dining
2,631 visits/mo
0.2 miles
Demographics for 28212, NC
41,009
Population
17,417
Households
2.4
Avg Household Size
33
Median Age
24%
College-Educated
78%
High-School Grad
9.2 sq mi
ZIP Area
4,458
Density / Sq Mi
$51,530
Median Household Income
$35,596
Median Earnings
$1,274
Median Rent
$236,300
Median Home Value
Market
Vacancy Rate% for Retail in Charlotte, NC
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - Absolute net lease structure with a named automotive tenant and direct access from East Independence Boulevard.
Where is this nnn property located?
The property is located at 6625 East Independence Boulevard Charlotte, NC.
What is the asking price?
The asking price for this property is $3,869,000.
What are key features of this property?
This property features: Absolute net lease with Adams Auto Group as the tenant; 8+ years remaining on the current lease term; Includes one (1) five (5) year option period
