Current Use by Public Records
- Retail properties & Spaces
Property Details for 17895 Glenn St
- Year built
- 2023
- Lot size
- 1.74 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a brand-new, 10,500 square foot Family Dollar Tree combination store in Denton, North Carolina. Built in 2023, the property boasts a 10-year net lease with a corporate guarantee from a credit-rated tenant, ensuring a stable income stream. The lease includes four, five-year renewal options with built-in rent increases, further enhancing the return on investment. Situated on a 1.74-acre lot on a high-traffic thoroughfare, this property benefits from excellent visibility and a strong demographic profile. The property's strong NOI and cap rate make it an attractive addition to any portfolio. The lease commenced October 16, 2023, and expires October 31, 2033. The property's location offers access to a substantial population base with a significant average household income. This is a rare opportunity to acquire a newly constructed, high-performing retail asset with a long-term lease and significant upside potential. The asking price is $1,813,636, reflecting an 8.25% cap rate based on a net operating income of $149,625. The lease provides for $0.50 per square foot rent bumps at each option period.
Value Estimations
-
AI approach
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Denton
- County
- Davidson
- State
- North Carolina
- Longitude
- -80.1082
- Latitude
- 35.6332
