473 Broad Ave Rockingham, NC 28379

This fee-simple, 4,695 sq ft auto shop in Rockingham, NC, offers a compelling investment opportunity. Built in 1996 and renovated in 2000, the property boasts a strong 7.50% cap rate, currently 100% occupied by Strickland Brothers, a rapidly expanding national auto repair chain with a corporate guarantee. The lease, a Net Net (NN) agreement, commenced June 1, 2021, and expires May 31, 2029, with a remaining term of 4.5 years. A significant rent increase of 12.3% is scheduled for June 2025, projected to boost the cap rate to 8.42%. The property features a two-bay quick lube and a separate two-bay repair building, presenting potential for future expansion. Its strategic location off three major highways (Route 1, US 74, and US 220) ensures high visibility and significant traffic counts (approximately 30,000 vehicles per day). The asking price is $880,000 ($187.43/sq ft). Lease options include one 5-year renewal and three 3-year renewals. This single-story building presents a rare opportunity to acquire a well-established, high-performing auto repair business with significant upside potential. The property is part of a recent acquisition of 24 Snappy Lube stores in North Carolina.