9502 Mt Holly-Huntersville Rd Charlotte, NC 28216

Property Details for 9502 Mt Holly-Huntersville Rd

Year built

2001

Lot size

1.35 lot acres

Property size

3,648 SF

Property type

Retail properties & Spaces

Property subtype

Gas stations

Description

This exceptional investment opportunity presents a fee-simple ownership of a 7-Eleven gas station and car wash in Charlotte, NC. The property boasts a 3,648 square foot convenience store and a 1,199 square foot car wash tunnel, situated on a 1.35-acre lot. Built in 2001, the single-story building benefits from a highly visible location along major roadways, experiencing significant daily traffic volume exceeding 19,000 vehicles on W.T. Harris Blvd and 14,000 vehicles on Mt. Holly-Huntersville Rd, with proximity to I-485 (approximately 83,000 VPD). The absolute NNN lease, commencing January 22, 2018, and expiring February 28, 2037, includes two five-year renewal options, providing long-term stability and passive income. Rent increases by 10% every five years. The property enjoys a strong financial performance, with a Net Operating Income (NOI) of $383,328 and a 5.75% cap rate. The asking price is $6,666,574, translating to $1,827.46 per square foot. The affluent surrounding area, with an average household income exceeding $105,142 annually and approximately $1.6 billion in consumer spending, further enhances the investment's appeal. The tenant, 7-Eleven, has a proven operational history, averaging roughly 25,451 monthly customer visits. The location's strategic positioning near popular retailers like Food Lion, Popeyes, Dollar General, Target, Lowe's, and Northlake Mall, coupled with a high barrier to entry due to rural zoning on the neighboring corner, ensures sustained market dominance. The property is eligible for bonus depreciation.

Location Insight

City

Charlotte

County

Mecklenburg

State

North Carolina

Longitude

-80.8876

Latitude

35.3202