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

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.