70 Neuse River PkwyClayton, NC 27527

  • Retail properties
  • 1.06 AC
For Sale
$2,440,000 View listing

Property Details for 70 Neuse River Pkwy

Year built
2023
Lot size
1.06 AC
Property type
Retail properties
Property subtype
Other retail properties

Description

This exceptional investment opportunity presents a brand-new, single-tenant 1,669 square foot Strickland Brothers 10-Minute Oil Change facility located at 70 Neuse River Pkwy, Clayton, NC 27527. The property sits on a 1.06-acre lot and boasts a strong financial profile, including a 6.15% cap rate and a substantial net operating income (NOI) of $149,991. Built in 2023, this property benefits from an absolute NNN lease with zero landlord responsibilities, providing significant passive income potential. The 15-year lease, commencing October 5, 2023, and expiring February 29, 2040, includes four 5-year renewal options with 10% rent bumps every five years. This fee-simple investment is ideal for bonus depreciation, encompassing both land and building. The tenant, Strickland Brothers, is a rapidly expanding national franchise with over 250 locations across 27 states. This specific location is one of the highest-volume Strickland Brothers in the chain and is conveniently situated adjacent to a top-performing Food Lion grocery store. The property benefits from its location in a high-growth area, with an average household income exceeding $150,000 within a 3-mile radius and significant population growth. Clayton's strategic location near major employers, including expanding bio-manufacturing facilities for Novo Nordisk and Grifols, further enhances the investment's long-term prospects. The property's strong tenant, long-term lease, and prime location make it an attractive investment opportunity.

70 Neuse River Pkwy, Clayton, North Carolina
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Location Insight

City
Clayton
County
Johnston
State
North Carolina
Latitude
35.6489
Longitude
-78.3951

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