2448 Church StBurlington, NC 27215

For Sale
$2,582,300

High-yield NNN lease, strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
92
This exceptional investment opportunity presents a fee-simple, Class A, 6,844 square-foot auto shop in Burlington, NC. Located on a high-traffic intersection (29,000 vehicles per day), this property boasts an absolute NNN lease with Mavis Discount Tire, a nationally recognized leader in automotive services, guaranteeing minimal landlord responsibilities. The lease features a remaining term of 1.2 years, followed by two 5-year options with 10% rent bumps every five years, providing excellent inflation protection. The property's strong financial performance is reflected in a 7.75% cap rate and a current NOI of $200,129. Built in 2000, this single-tenant property sits on a 1.03-acre lot and is strategically positioned as an outparcel to a top-performing Lowe's Home Improvement store, further enhancing its visibility and desirability. The surrounding area features a robust mix of national retailers, including Publix, Harris Teeter, CVS, Wendy's, O'Reilly Auto Parts, and Dunkin', indicating a thriving commercial environment. The property's location within a 5-mile radius boasting an average household income exceeding $75,000 and projected growth of over 4% by 2027, underscores its long-term investment potential. The asking price is $2,582,300, representing a price per square foot of $377.31. This is a 100% occupied property with a lease expiration date of January 30, 2026. This is a truly exceptional opportunity for investors seeking a secure, high-return investment with minimal management requirements.

Highlights

  • Absolute NNN lease with no landlord responsibilities.
  • Over two years remaining on the lease term with 10% rent increases in each of the two, five-year options.
  • Outparcel to a top 2% performing Lowe's Home Improvement store nationally.
  • Excellent retail location with strong national co-tenancy including Publix, Harris Teeter, CVS, Wendy's, O'Reilly Auto Parts, and Dunkin'.
  • Lease is corporately guaranteed by Mavis Discount Tire.
  • Strong demographics within a 5-mile radius, with average household income exceeding $75,000 and projected growth over 4% by 2027.

Property Details for 2448 Church St

Property type
Other retail properties, Automotive properties
Square Feet
6,844 SF
Class
A
Year Built
2000
Lot Size (sq. ft)
44,867 SF

Location Insight

City
Burlington
County
Alamance
State
North Carolina
Latitude
36.0805919
Longitude
-79.4791368
2448 Church St, Burlington, North Carolina

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2448 Church St
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