121 Montgomery Xing Biscoe, NC 27209-9592

Property Details for 121 Montgomery Xing

Year built

2006

Lot size

1.00 lot acres

Property size

7,360 SF

Property type

Commercial real estate

APN

7568 10 26 6461

APU

756810266461

Description

This exceptional investment opportunity presents a 7,370-square-foot AutoZone retail property located at 121 Montgomery Crossing, Biscoe, NC 27209. Boasting a 13.9-year remaining lease term (expiring 09/30/2038) with a corporate guarantee from AutoZone, a national leader with over 6,400 locations and $17.5 billion in revenue, this property offers significant stability and predictable income. The lease features 1.5% annual rent increases from year 21 through year 32, ensuring consistent growth. The property sits on a 43,590-square-foot lot and was built in 2006. It benefits from a prime location on Highway 24, experiencing an average daily traffic count of 16,500 vehicles. Its strategic outlot position adjacent to Walmart and proximity to other national retailers like Dollar Tree, McDonald's, DaVita, Tractor Supply Co., and Bojangles ensures high visibility and customer traffic. The property's strong performance is reflected in its current 100% occupancy and a Net Operating Income (NOI) of $96,000, yielding a 5.75% cap rate. The asking price is $1,669,565. The property is situated in a thriving area with an average household income of $70,585 within a 5-mile radius and a population of 7,109. Biscoe's central location in North Carolina offers easy access to major cities like Charlotte, Greensboro, and Winston-Salem. Three 5-year lease options provide further long-term security. This is a compelling investment opportunity with strong tenant credit, a proven track record, and significant upside potential.