20116 Catawba AveCornelius, NC 28031

Property Details for 20116 Catawba Ave

Year built

1997

Lot size

0.46 AC

Property size (Sq ft)

3,288 SF

Zone code

HC

Property type

Retail properties

Property subtype

Auto shops

APN

527117

APU

527117

Description

This exceptional investment opportunity presents a fee-simple owned, 2,661 square foot Jiffy Lube, a subsidiary of Shell Oil Company (S&P A+ rating), located at 20116 W Catawba Ave, Cornelius, NC 28031. The property boasts a 20-year absolute NNN lease, commencing at closing, ensuring minimal landlord responsibilities. With a 100% occupancy rate and a strong net operating income (NOI) of $76,480, resulting in a 6.40% cap rate, this single-tenant building offers a compelling return on investment. Built in 1997, the property benefits from its strategic location directly across from a newly constructed Chick-fil-A, ALDI, Andy's Frozen Custard, and Five Guys, ensuring high visibility and traffic. Neighboring businesses include Tropical Smoothie Cafe, Goodyear, and Planet Fitness, further enhancing the location's appeal. The site enjoys excellent visibility with approximately 29,000 vehicles passing daily. Cornelius, located approximately 19 miles from Charlotte, has an estimated population of approximately 63,006 within a 4-mile radius. Other established businesses along W Catawba Ave include McDonald's, Starbucks, Bojangles, and Taco Bell. The asking price for this exceptional retail property is $1,195,005.

• CAP approach

  CAP return

  Valuation

  6%

  $1,165,207

  6.5%

  $1,075,575

  7%

  $998,748

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,403,111

  Geo Method

  $1,403,111

• Alternative Use

  Use

  Valuation

  Residential

  $907,288

  Hospitality

  $831,071

  Educational

  $691,441

  Medical

  $715,221

  Retail

  $1,075,575

Location Insight

City

Cornelius

County

Mecklenburg

State

North Carolina

Latitude

35.482

Longitude

-80.8808

CBSA code

16740

CBSA name

CHARLOTTE-CONCORD-GASTONIA, NC-SC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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