139 Blowing Rock Blvd Lenoir, NC 28645-4401

Property Details for 139 Blowing Rock Blvd

Year built

2022

Lot size

0.63 lot acres

Property size

2,388 SF

Property type

Drive through restaurants

APN

09 50 1 3A

APU

095013A

Description

This exceptional investment opportunity presents a fee-simple interest in a brand-new, 3,500-square-foot Aspen Dental building, constructed in 2023. Located at 139 Blowing Rock Blvd, Lenoir, NC 28645, this single-tenant property sits on a 0.85-acre lot and boasts a strong 100% occupancy rate. The property benefits from a 10-year net lease (NN) with a commencement date of July 1, 2023, and an expiration date of June 30, 2033, leaving 8.6 years remaining on the initial term. The lease includes attractive 10% rent bumps every five years, providing a built-in hedge against inflation. The current annual net operating income (NOI) stands at $149,500, representing a compelling 6.00% cap rate on the asking price of $2,491,667. The lease also includes three, five-year renewal options, further enhancing the long-term value of this investment. This freestanding building enjoys excellent visibility and access within a dense retail area, benefiting from a growing demographic profile. The property's strategic location in Caldwell County, North Carolina, offers significant potential for future growth and appreciation. This is a rare opportunity to acquire a high-quality, passively managed investment with a leading dental provider in a desirable location.

Location Insight

City

Lenoir

County

Caldwell

State

North Carolina

Longitude

-81.5254

Latitude

35.9156

CBSA code

25860

CBSA name

HICKORY-LENOIR-MORGANTON, NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments