160 Us-158 Byp Henderson, NC 27537
- Retail properties
- 15,900 SF
- 1.73 lot acres
Current Use by Public Records
- Retail properties
Property Details for 160 Us-158 Byp
- Year built
- 2023
- Lot size
- 1.73 lot acres
- Property size
- 15,900 SF
- Property type
- Retail properties
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a 15,900-square-foot Petco storefront in Henderson, North Carolina. Located at 160 US-158 BYP, this property boasts a prime retail location on a major thoroughfare, ensuring high visibility and accessibility. Built in 2023, the single-building property sits on a 1.73-acre lot and benefits from ample parking and excellent signage. The absolute NNN lease with Petco, a creditworthy tenant, provides investors with zero landlord responsibilities. The lease commenced March 3, 2023, and has a remaining term of 13.1 years, extending to December 20, 2037. The lease includes five 5-year renewal options and annual rent bumps, providing consistent income growth. The property's strong financial performance is reflected in its 6.00% cap rate and a Net Operating Income (NOI) of $349,412. The asking price is $5,825,000, translating to a price per square foot of $366.35. The property's location in Henderson, a high-demand market with a low 0.7% vacancy rate and no new retail construction, further enhances its investment appeal. The area features numerous national retailers including Walmart, Lowe's, Marshalls, and Walgreens, creating a robust retail environment. This is a rare opportunity to acquire a newly built, high-performing retail property with a long-term lease and significant upside potential.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Henderson
- County
- Vance
- State
- North Carolina
- Longitude
- -78.4438
- Latitude
- 36.3373
