1437 Pollock St Selma, NC 27576

Property Details for 1437 Pollock St

Year built

2003

Lot size

0.71 lot acres

Property size

7,000 SF

Property type

Retail properties

Property subtype

Retail space

Description

This exceptional investment opportunity presents a 7,000-square-foot Advance Auto Parts storefront located at 1437 S Pollock St, Selma, NC 27576. The property boasts a strong 6.75% cap rate, generating a net operating income (NOI) of $89,010. Secured by a corporate guarantee from Advance Stores Company, Inc., a national retailer with over 5,200 locations, this net lease investment offers significant stability and long-term growth potential. The lease, originally signed in 2003, has been extended through December 31, 2031, providing a remaining term of 7.1 years. Future rent increases are built in, with options for 11.11% or 3.54% increases. Situated on a 0.71-acre lot with 34 parking spaces, the property benefits from its prime location at a signalized intersection with high visibility (46,000 vehicles per day combined) and proximity to a major highway (I-95, Exit 97, 36,000 VPD). The property is part of a thriving retail area, an outparcel to the Johnston Square shopping center, anchored by Food Lion and including other national retailers. Its strategic location offers convenient access to a significant population base, including major employers, healthcare facilities (UNC Health Johnston), educational institutions (Johnston Community College, Smithfield-Selma High School), and numerous residential areas. The area also features several large distribution centers and a wide array of additional retail amenities. This property represents a compelling investment opportunity with a proven track record and substantial upside potential. The building was constructed in 2003.

Location Insight

City

Selma

County

Johnston

State

North Carolina

Longitude

-78.3003

Latitude

35.5241