Current Use by Public Records
- Fuji Express / Restaurant
- Western Union / Bank / Credit Union
- Roadrunner Markets / Grocery & Convenience Store
- Shell / Gas Station
- ATM (Roadrunner Market) / Atm
Property Details for 393 Mills St
- Year built
- 1998
- Lot size
- 1.25 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Grocery and convenience stores
Description
This Columbus, NC, fee-simple retail property offers a compelling investment opportunity. The 5,223 square-foot convenience store and gas station, operating under a 15-year absolute NNN lease (expiring April 30, 2037, with 12.4 years remaining), boasts a 6.00% cap rate and a $130,648 annual NOI. The property features a credit-rated tenant, GPM Investments (Road Runner), with a lease including four 5-year renewal options and 10% rent bumps every five years. Built in 1998, this 1.25-acre site enjoys excellent visibility and accessibility, situated on W Mills St (13,000 VPD) with convenient access to I-26 (44,000 VPD). The location benefits from a strong demographic profile, including over 11,000 residents and 5,000 employees within a 5-mile radius, and an average household income of $90,173. Nearby retailers include Food Lion, Family Dollar, McDonald's, and Wendy's. The property is a management-free investment, with the tenant responsible for all CAM, taxes, and insurance. Asking price: $2,177,000.
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
- Columbus
- County
- Polk
- State
- North Carolina
- Longitude
- -82.2043
- Latitude
- 35.247
