Current Use by Public Records
- Warehouses
Property Details for 2946 Piper Ct
- Year built
- 2022
- Lot size
- 2.60 lot acres
- Property type
- Warehouses
- Property subtype
- Retail properties & Spaces
Description
This exceptional investment opportunity presents two strategically located, newly constructed (2022) warehouses in North Carolina, leased to Frito-Lay, a subsidiary of PepsiCo Inc. Both properties serve as product exchange centers, benefiting from the consistent performance of a dominant player in the snack food industry. The Burlington location, at 2946 Piper Ct, Burlington, NC 27215, encompasses 7,884 square feet on a 3.73-acre lot, featuring eight loading docks. The Roxboro property, situated at 101 Lucy Garrett Rd, Roxboro, NC 27574, offers 3,581 square feet on 2.6 acres with four loading docks. Both boast ample yard space. Each warehouse is subject to a triple-net (NNN) lease with approximately eight years remaining on a 10-year term, including two fair market value renewal options. The properties offer a compelling 7.42% cap rate and a combined net operating income (NOI) of $266,940. Landlord responsibilities include roof, structure, and exterior maintenance
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Burlington
- County
- Alamance
- State
- North Carolina
- Longitude
- -79.4627
- Latitude
- 36.0488
