3700 Wilkinson Blvd Charlotte, NC 28208-5541
- Automotive properties
- 1,818 SF
- 0.58 lot acres
Current Use by Public Records
- Fat Boy Tires & Auto Repair / Tire Shop / Auto Repair Shop
- Take 5 Oil Change / Oil Change Service
Property Details for 3700 Wilkinson Blvd
- Year built
- 1955
- Lot size
- 0.58 lot acres
- Property size
- 1,818 SF
- Zone code
- B2
- Property type
- Automotive properties
- APN
- 6102827
- APU
- 6102827
Description
This exceptional investment opportunity presents a 1,400 square foot, single-tenant net-leased auto shop located at 3700 Wilkinson Blvd, Charlotte, NC 28208. The property, built in 2023, sits on a 0.58-acre lot and boasts a 100% occupancy rate with Take 5 Oil Change as the tenant. The current lease, commencing April 1, 2024, and expiring March 31, 2039, offers a substantial remaining term of approximately 14.4 years. The lease includes four 5-year renewal options and features a built-in 10% rent increase every five years, ensuring consistent rental growth. The property generates a strong net operating income (NOI) of $120,000, resulting in an attractive 5.75% capitalization rate. This prime location on Wilkinson Boulevard (Hwy 74) benefits from high traffic volume (40,000 vehicles per day), connecting Charlotte's urban core to Charlotte Douglas International Airport. Its strategic position also provides easy access to major interstates I-85 (130,000 VPD) and I-77 (160,000 VPD), further enhancing its visibility and accessibility. This is a rare opportunity to acquire a well-positioned, high-performing NNN ground lease investment with significant long-term growth potential. The asking price is $2,085,000.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $930,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $915,000
- 6.5%
- $925,000
- 7%
- $830,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $920,000
- Geo Method
- $900,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $920,000
- Retail
- $765,000
- Mixed-Use
- $820,000
- Hospitality
- $805,000
- Educational
- $770,000
- Residential Income
- $815,000
- Energy
- $910,000
- Income-Based Land
- $920,000
- Food Service
- $935,000
Location Insight
- Map
- Local Demand
- City
- Charlotte
- County
- Mecklenburg
- State
- North Carolina
- Longitude
- -80.9028
- Latitude
- 35.2252
- CBSA code
- 16740
- CBSA name
- CHARLOTTE-CONCORD-GASTONIA, NC-SC METROPOLITAN STATISTICAL AREA
