201 Freedom Way Midway Park, NC 28544-1418
- Industrial properties
- 6,000 SF
- 0.74 lot acres
Current Use by Public Records
- UPS Access Point location / Shipping And Mailing Service / Mailing Service
- Advance Auto Parts / Car Accessories Store / Car Battery Store
Property Details for 201 Freedom Way
- Year built
- 1988
- Lot size
- 0.74 lot acres
- Property size
- 6,000 SF
- Zone code
- CC
- Property type
- Industrial properties
- APN
- 30899
- APU
- 30899
Description
This 6,000 square foot auto parts retail building in Jacksonville, NC, presents a compelling investment opportunity. Currently 100% occupied by Advance Auto Parts, a publicly traded company (NYSE: AAP) with a strong credit rating (S&P Global: BB+, Moody's: Baa3), the property boasts a long operating history at this location since 1988. The lease, a Net Net (NN) single-tenancy agreement, has a remaining term of approximately 4.1 years, expiring December 31, 2028, with two, five-year lease options. The property features a strong rent-to-sales ratio of approximately 4% and a current NOI of $63,204, yielding a 7.50% cap rate. Recent improvements include a new roof and parking lot within the last five years. Its strategic location is outparceled to a 96% leased, approximately 150,000 square foot shopping center anchored by Food Lion, less than 10 miles from Camp Lejeune and under 20 miles from Onslow Beach. Alpha Maps data ranks this location in the 80th percentile nationally, indicating a prime retail location with below-market rents, presenting a significant value-add opportunity. The property's strong tenant, long lease history, and recent improvements make it an attractive investment with significant upside potential.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $775,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $840,000
- 6.5%
- $850,000
- 7%
- $875,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $920,000
- Geo Method
- $875,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $775,000
- Retail
- $850,000
- Mixed-Use
- $695,000
- Hospitality
- $790,000
- Educational
- $875,000
- Residential Income
- $760,000
- Energy
- $690,000
- Income-Based Land
- $865,000
- Food Service
- $850,000
Location Insight
- Map
- Local Demand
- City
- Midway Park
- County
- Onslow
- State
- North Carolina
- Longitude
- -77.3244
- Latitude
- 34.7172
- CBSA code
- 27340
- CBSA name
- JACKSONVILLE, NC METROPOLITAN STATISTICAL AREA
