1604 Main StLexington, NC 27292

For Sale
$4,500,000

High-yield NNN flex property, strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
92
This exceptional investment opportunity presents a portfolio of three single-story industrial flex buildings totaling 85,278 square feet, situated on six acres of land. Located in Lexington and Wilkesboro, North Carolina, the property boasts a strong, single tenant—TDF Furniture—under a triple-net (NNN) lease. The current lease features a 10-year term with two 5-year renewal options and annual rent escalations of 2%. The property generates a substantial net operating income (NOI) of $360,000, resulting in an attractive 8.00% capitalization rate. The asking price is $4,500,000, translating to a price per square foot of $52.77. This is an ideal investment for those seeking a stable, high-return, low-management flex property with a proven tenant and significant upside potential. The property addresses are 1604 S Main St, Lexington, NC 27292 and 5766 US-421, Wilkesboro, NC 28697. The current rent per square foot is $4.22. This is an absolute NNN lease, meaning the tenant is responsible for all operating expenses.

Highlights

  • Three single-story industrial flex buildings totaling 85,278 square feet on six acres in Lexington and Wilkesboro, NC.
  • Triple-net (NNN) lease with TDF Furniture, a single tenant.
  • 10-year lease with two 5-year options and 2% annual rent escalations.
  • $4,500,000 asking price, $52.77/SF, 8.00% cap rate, $360,000 NOI, $4.22/SF rent.
  • Tenant responsible for all operating expenses.

Property Details for 1604 Main St

Property type
Other industrial properties, Flex space
Square Feet
85,278 SF
Buildings
3
Stories
1
Lot Size (sq. ft)
261,360 SF

Location Insight

City
Lexington
County
Davidson
State
North Carolina
Latitude
35.8084144
Longitude
-80.2728136
1604 Main St, Lexington, North Carolina
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1604 Main St
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