6040 Kilbart Xing Ocean Isle Beach, NC 28469
- Retail properties
- 6,979 SF
- 1.29 lot acres
Current Use by Public Records
- Retail properties
Property Details for 6040 Kilbart Xing
- Year built
- 2023
- Lot size
- 1.29 lot acres
- Property size
- 6,979 SF
- Property type
- Retail properties
- Property subtype
- Auto shops
Description
This exceptional investment opportunity presents a brand-new, 6,979-square-foot Mavis Discount Tires auto shop in Ocean Isle Beach, North Carolina. The property, built in 2023, sits on a 1.29-acre lot and boasts 38 parking spaces, ensuring ample customer convenience. Strategically located at 6040 Kilbart Xing, the property benefits from excellent visibility and accessibility, situated at a high-traffic intersection with 8,500 vehicles per day. The property is offered via a 20-year absolute NNN sale-leaseback to Mavis Discount Tires, a leading tire supplier, eliminating landlord responsibilities. The lease includes six, 5-year renewal options, each with a 5% rental escalation. This translates to a strong 5.50% cap rate and a substantial net operating income (NOI) of $180,000. The asking price is $3,272,727, representing a price per square foot of $468.94. The property serves a thriving market, with a population exceeding 19,000 within a 5-mile radius, projected to grow by 9.4% in the next five years. Average household income within this radius surpasses $102,000 annually. This investment benefits from the advantages of the Wilmington, NC MSA, a market with a population of 299,289. This is a rare opportunity to acquire a newly constructed, high-performing asset with a long-term, secure lease in a rapidly growing area.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Ocean Isle Beach
- County
- Brunswick
- State
- North Carolina
- Longitude
- -78.4382
- Latitude
- 33.9053
