4830 Koger Blvd Greensboro, NC 27407

Property Details for 4830 Koger Blvd

Year built

2019

Lot size

1.56 lot acres

Property size

5,820 SF

Property type

Commercial real estate

APN

57739

Description

This exceptional investment opportunity presents a fee-simple ownership (land and building) of a 5,820 square foot Carvana dealership in Greensboro, NC. The property boasts a strong 6.75% cap rate and a substantial net operating income (NOI) of $461,013. The absolute NNN lease with Carvana, a Fortune 500 company, extends to April 30, 2042, with four 5-year renewal options, ensuring long-term stability and predictable income growth. Rent increases are tied to the lesser of 9.608% or 1.25x CPI, providing inflation protection. Situated on a 1.56-acre lot with 47 parking spaces, the property benefits from excellent visibility and accessibility along Interstate 40 (124,000 VPD), Interstate 73 (69,200 VPD), and US Highway 70 (53,600 VPD). Its prime location within a dense retail corridor, near major retailers like Home Depot, Sam's Club, Target, and Walmart, and the high-performing Wendover Village shopping center (5.2M+ annual visits), ensures consistent customer traffic. The property is zoned CD-LI (Conditional District Light Industrial) and was built in 2019. The 5-mile trade area boasts a population exceeding 166,300 residents and 119,200 employees, with an average household income of $89,083, supporting robust consumer demand. This investment offers a management-free, passive income stream with significant upside potential.