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    4830 Koger Blvd Greensboro, NC 27407

    For Sale
    $6,830,000

    High-yield Carvana NNN lease.

    Property size:
    5,820 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    368
    This exceptional investment opportunity presents a fee-simple ownership (land and building) of a 5,820 square foot Carvana dealership in Greensboro, NC. The property boasts a strong 6.75% cap rate and a substantial net operating income (NOI) of $461,013. The absolute NNN lease with Carvana, a Fortune 500 company, extends to April 30, 2042, with four 5-year renewal options, ensuring long-term stability and predictable income growth. Rent increases are tied to the lesser of 9.608% or 1.25x CPI, providing inflation protection. Situated on a 1.56-acre lot with 47 parking spaces, the property benefits from excellent visibility and accessibility along Interstate 40 (124,000 VPD), Interstate 73 (69,200 VPD), and US Highway 70 (53,600 VPD). Its prime location within a dense retail corridor, near major retailers like Home Depot, Sam's Club, Target, and Walmart, and the high-performing Wendover Village shopping center (5.2M+ annual visits), ensures consistent customer traffic. The property is zoned CD-LI (Conditional District Light Industrial) and was built in 2019. The 5-mile trade area boasts a population exceeding 166,300 residents and 119,200 employees, with an average household income of $89,083, supporting robust consumer demand. This investment offers a management-free, passive income stream with significant upside potential.

    Property Features for 4830 Koger Blvd

    General Information

    Property type
    Retail properties
    Square Feet
    5,820 SF
    Lot Size
    67,954 SF

    Building Details

    Year Built
    2019

    HighLights

    • 17 years remaining on lease, with extension options and scheduled rent increases; strong, established tenant.
    • Absolute NNN lease; fee simple ownership; no landlord responsibilities.
    • Tenant (CVNA) experienced a significant stock surge on the NYSE, increasing 500% in the past year.
    • Excellent visibility and accessibility via I‑40 (124,000 VPD), located in a dense retail corridor within the high‑traffic Wendover Village Center (5.2M+ annual visits).
    • Strong demographics within a 5‑mile radius, including proximity to Piedmont Triad International Airport and a significant consumer base.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Carvana Greensboro Used Car Dealer

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Greensboro
    County
    Guilford
    State
    North Carolina
    Longitude
    -79.8814872
    Latitude
    36.0519832

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    FAQs

    What type of property is this?
    Retail property - High-yield Carvana NNN lease.
    Where is this retail property located?
    The property is located at 4830 Koger Blvd Greensboro, NC.
    What is the asking price?
    The asking price for this property is $6,830,000.
    What are key features of this property?
    This property features: 17 years remaining on lease, with extension options and scheduled rent increases; strong, established tenant.; Absolute NNN lease; fee simple ownership; no landlord responsibilities.; Tenant (CVNA) experienced a significant stock surge on the NYSE, increasing 500% in the past year.
    Request Owner's contact information
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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
    4830 Koger Blvd Greensboro, NC 27407
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