Current Use by Public Records
- Retail properties & Spaces
Property Details for 609 Hwy
- Lot size
- 0.52 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a 3,500 square foot NAPA Auto Parts store located at 609 Highway 70 in Beaufort, North Carolina. The property sits on a 0.52-acre lot and is offered at an asking price of $260,000, representing a price per square foot of $74.29 and a 6.92% cap rate. The property features a triple net (NNN) lease with a single tenant, a NAPA Auto Parts franchisee, ensuring a straightforward investment structure. The lease commenced on October 1, 2016, and expired on October 31, 2022, resulting in a current vacancy. The property boasts 100% occupancy at the time of the lease expiration and generated a net operating income (NOI) of $18,000. While the lease includes no rent bumps or options, the strong market position of the tenant and the property's location offer potential for future income growth. This is a prime opportunity for investors seeking a stable, income-producing asset in a desirable location. The property benefits from high visibility due to its convenient location off Highway 70. This is a short-term lease, presenting a unique opportunity for investors to reposition the property in the near future.
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
- Beaufort
- County
- Carteret
- State
- North Carolina
- Longitude
- -76.5547
- Latitude
- 34.7729
