830 Nc-16 Business Denver, NC 28037
- Retail properties
- 1,188 SF
- 1.25 lot acres
Current Use by Public Records
- Retail properties
Property Details for 830 Nc-16 Business
- Year built
- 1997
- Lot size
- 1.25 lot acres
- Property size
- 1,188 SF
- Property type
- Retail properties
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a fee-simple interest in a 1,188 square foot auto shop located at 830 NC-16 Business, Denver, NC 28037. The property, built in 1997 and renovated in 2024, sits on a 1.25-acre lot in a high-traffic area (24,000 vehicles per day) and boasts a strong retail presence. Currently leased to Strickland Brothers Oil Change, a rapidly expanding brand with over 175 existing locations, this property offers a 15-year triple-net (NNN) lease commencing January 31, 2024, and expiring February 27, 2039. The lease includes a 10% rent increase every five years, minimizing landlord responsibilities. The property generates a Net Operating Income (NOI) of $92,344, resulting in an attractive 6.85% cap rate. The asking price is $1,348,088. The location benefits from excellent demographics, with an average household income exceeding $121,000 within a one-mile radius, and enjoys convenient access to major roadways and nearby amenities, including Lake Norman. This is a compelling investment opportunity offering long-term stability and significant return potential.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Denver
- County
- Lincoln
- State
- North Carolina
- Longitude
- -80.9923
- Latitude
- 35.4656
