Current Use by Public Records
- Advance Auto Parts / Auto Parts Store
- UPS Access Point location / Courier Service / Postal Service
Property Details for 1437 Pollock St
- Year built
- 2003
- Lot size
- 0.71 lot acres
- Property type
- Retail properties & Spaces
- 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.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Selma
- County
- Johnston
- State
- North Carolina
- Longitude
- -78.3003
- Latitude
- 35.5241
