20116 Catawba Ave Cornelius, NC 28031-4013
- Auto shops
- 3,288 SF
- 0.46 lot acres
Current Use by Public Records
- Jiffy Lube / Oil Change Service / Auto Parts Store
Property Details for 20116 Catawba Ave
- Year built
- 1997
- Lot size
- 0.46 lot acres
- Property size
- 3,288 SF
- Zone code
- HC
- Property type
- 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.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,010,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,260,000
- 6.5%
- $1,305,000
- 7%
- $1,075,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,345,000
- Geo Method
- $1,225,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $960,000
- Retail
- $1,225,000
- Mixed-Use
- $1,175,000
- Hospitality
- $1,175,000
- Educational
- $950,000
- Residential Income
- $1,290,000
- Energy
- $950,000
- Income-Based Land
- $1,015,000
- Food Service
- $1,145,000
Location Insight
- Map
- Local Demand
- City
- Cornelius
- County
- Mecklenburg
- State
- North Carolina
- Longitude
- -80.8808
- Latitude
- 35.482
- CBSA code
- 16740
- CBSA name
- CHARLOTTE-CONCORD-GASTONIA, NC-SC METROPOLITAN STATISTICAL AREA
