70 Neuse River Pkwy Clayton, NC 27527

Property Details for 70 Neuse River Pkwy

Year built

2023

Lot size

1.06 lot acres

Property type

Retail properties

Property subtype

Retail space

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.

Location Insight

City

Clayton

County

Johnston

State

North Carolina

Longitude

-78.3951

Latitude

35.6489