1449 Pollock St Selma, NC 27576

Property Details for 1449 Pollock St

Year built

2024

Lot size

1.06 lot acres

Property type

Retail properties

Property subtype

Auto shops

Description

This exceptional investment opportunity presents a brand-new, single-tenant Strickland Brothers 10-Minute Oil Change facility located in Selma, North Carolina. Situated within a Food Lion-anchored shopping center (ranking in the top 30% of North Carolina grocery stores by Placer.ai), this property boasts a prime location with high visibility and convenient access. The 1,673 square foot building sits on a 1.059-acre lot and is constructed in 2024. The property benefits from an absolute NNN lease, eliminating landlord responsibilities. The lease, commencing May 23, 2024, and expiring February 29, 2040, includes four 5-year renewal options with a 10% rent increase each time. The current Net Operating Income (NOI) is $154,609, yielding a 6.15% cap rate. The asking price is $2,515,000. This fee-simple investment is ideal for bonus depreciation, encompassing both land and building. The tenant, Strickland Brothers Oil Change, operates over 250 locations across 27 states and is recognized as one of the fastest-growing franchises in the United States, featured in Entrepreneur's "2023 Franchise 500." The lease is fully guaranteed by the corporation. The property's strategic location offers proximity to major employers, schools, and daily traffic drivers, including UNC Health Johnston, Johnston Community College, Smithfield-Selma High School, and several large distribution centers. This is a rare opportunity to acquire a high-performing, low-maintenance investment property with significant long-term growth potential. The property's APN is 14057027C, 14057027, 14057030H.