1250 Lucky Penny St Charlotte, NC 28208
- Specialty properties
- 4,181 SF
Current Use by Public Records
- Circle K / Gas Station / Convenience Store
- LibertyX Bitcoin ATM / Atm
Property Details for 1250 Lucky Penny St
- Year built
- 2023
- Property size
- 4,181 SF
- Property type
- Specialty properties
- Property subtype
- Retail properties
Description
This exceptional investment opportunity presents a brand-new, 4,181 square foot Circle K convenience store and gas station located at 1250 Lucky Penny St, Charlotte, NC 28208. Built in 2023, this property boasts a 15-year absolute NNN lease with a franchisee tenant, offering significant long-term stability and minimal landlord responsibilities. The lease includes a 10% rent increase every five years, ensuring consistent growth in income. The property enjoys a prime location directly off I-85 via Exit 34, benefiting from high visibility and significant daily vehicle traffic (117,000 VPD). With a 6.15% cap rate and a strong NOI of $336,000, this asset represents a compelling addition to any portfolio. The property features 16 parking spaces and is situated within a dense retail and industrial corridor, surrounded by major employers, healthcare facilities, and a large student population. The surrounding area exhibits robust population growth and a high average household income, further solidifying the investment's potential. This is a sale for leaseback transaction. The current lease expires on December 31, 2039, with options for 5-year lease extensions.
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
- Charlotte
- County
- Mecklenburg
- State
- North Carolina
- Longitude
- -80.8971
- Latitude
- 35.2502
