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    801 Mitchell St Kinston, NC 28501

    Sponsored
    For Sale
    $840,000

    Net-leased storefront, strong tenant.

    Property size:
    6,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a 6,000 square foot, single-tenant storefront located at 801 Mitchell St, Kinston, NC 28501. The property, built in 2007, is a Class B building situated on a 0.095-acre lot and includes 27 parking spaces. Currently 100% occupied by a credit-rated Carquest Auto Parts, the property boasts a strong net lease with a remaining term of 3 years, commencing December 1, 2023, and expiring November 30, 2027. The lease includes two 5-year options. The asking price is $840,000, representing a price per square foot of $140 and a 9.00% cap rate, with a current NOI of $75,600. The tenant, Carquest Auto Parts, operates a specialized paint and color mixing operation requiring special permitting. This location benefits from a strong co-tenancy with national brands including McDonald's, Dollar Tree, Advance Auto Parts, and Piggly Wiggly. This is a rare opportunity to acquire a well-located, net-leased property with a strong tenant and significant upside potential.

    Property Features for 801 Mitchell St

    General Information

    Property type
    Individual retail properties
    Square Feet
    6,000 SF
    Class
    B
    Lot Size
    4,138 SF

    Building Details

    Year Built
    2007
    Buildings
    1
    Stories
    1
    Units
    1

    HighLights

    • $840,000 asking price for this 6,000 SF retail storefront.
    • Net lease investment opportunity with a 9.00% cap rate and $75,600 annual NOI.
    • Credit‑rated tenant (Carquest Auto Parts) in a single‑tenant, 100% occupied building.
    • NNN lease with 3 years remaining, plus two 5‑year options; lease commenced December 1, 2023.
    • Located at 801 Mitchell St, Kinston, NC 28501, on a 0.095‑acre lot with 27 parking spaces.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Kinston
    County
    Lenoir
    State
    North Carolina
    Longitude
    -77.5842109
    Latitude
    35.269548

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    FAQs

    What type of property is this?
    Individual retail property - Net-leased storefront, strong tenant.
    Where is this individual retail property located?
    The property is located at 801 Mitchell St Kinston, NC.
    What is the asking price?
    The asking price for this property is $840,000.
    What are key features of this property?
    This property features: $840,000 asking price for this 6,000 SF retail storefront.; Net lease investment opportunity with a 9.00% cap rate and $75,600 annual NOI.; Credit-rated tenant (Carquest Auto Parts) in a single-tenant, 100% occupied building.
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    801 Mitchell St Kinston, NC 28501
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