3209 Nc-87 Sanford, NC 27332
- Retail properties
- 1,425 SF
- 0.67 lot acres
Current Use by Public Records
- Retail properties
Property Details for 3209 Nc-87
- Year built
- 2024
- Lot size
- 0.67 lot acres
- Property size
- 1,425 SF
- Property type
- Retail properties
- Property subtype
- Grocery and convenience stores
Description
This exceptional investment opportunity presents a brand-new, 1,425 square foot, single-story retail building in Sanford, NC (Lee County, zip code 27332). Located at 3209 NC-87, this property boasts a prime location with over 36,000 vehicles passing daily. The property is currently 100% occupied by a triple-net (NNN) lease with a credit-rated, corporate-guaranteed franchisee (Jiffy Lube, Take 5 Oil Change, and Valvoline) for a 15-year term commencing March 1, 2024, and expiring March 31, 2039. The lease includes six, five-year renewal options with a 10% rent increase every five years, starting in year six. The asking price is $2,191,750, offering a 6.00% cap rate and a net operating income (NOI) of $131,505. Built in 2024 on a 0.67-acre lot, this property features a large three-bay design to accommodate high sales volume. The strong tenant, a leader in the drive-thru oil change industry, operates approximately 750 locations nationwide and is part of a larger organization with over 4,800 locations globally. The 5-mile radius boasts a population of 26,400 with an average household income of $85,915, making this an ideal location for this type of business. This property qualifies for bonus depreciation (consult your tax professional). This is a rare opportunity to acquire a high-performing, low-maintenance investment with significant long-term growth potential.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Sanford
- County
- Lee
- State
- North Carolina
- Longitude
- -79.129
- Latitude
- 35.4477
