708 Laurinburg Rd Raeford, NC 28376
- Gas stations
- 1,290 SF
- 2.59 lot acres
Current Use by Public Records
- Strickland Brothers 10 Minute Oil Change and Inspection Station / Oil Change Service
Property Details for 708 Laurinburg Rd
- Year built
- 1995
- Construction
- CONCRETE BLOCKS
- Lot size
- 2.59 lot acres
- Property size
- 1,290 SF
- Property type
- Gas stations
- APN
- 694241101027
- APU
- 694241101027
Description
This exceptional investment opportunity presents a 1,778 square foot, single-tenant auto shop located at 708 Laurinburg Rd, Raeford, NC 28376. The property, built in 1995 and situated on a 0.78-acre lot, is currently 100% occupied by Strickland Brothers 10 Minute Oil Change under an Absolute NNN lease expiring February 28, 2038, providing a remaining lease term of 13.3 years. The lease includes 10% rent bumps every five years, ensuring consistent income growth. The property boasts a strong Net Operating Income (NOI) of $59,000, translating to a compelling 6.50% cap rate and a price per square foot of $510.51. The asking price for this turnkey investment is $907,692. Strickland Brothers provides drive-thru oil change services, including oil changes, filter replacements, lubrication, and a complimentary maintenance check. The franchisee has been thoroughly vetted, demonstrating strong financial strength and business experience. The brand is backed by Princeton Equity Group, a firm with a proven track record of growing emerging brands. This presents a rare opportunity to acquire a high-performing asset with a long-term lease, significant upside potential, and a strong tenant with a proven business model. The property features one building, one story, and is part of a rapidly expanding franchise. Four 5-year lease options are included.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $880,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $855,000
- 6.5%
- $790,000
- 7%
- $845,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,015,000
- Geo Method
- $990,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $870,000
- Retail
- $810,000
- Mixed-Use
- $735,000
- Hospitality
- $835,000
- Educational
- $945,000
- Residential Income
- $900,000
- Energy
- $740,000
- Income-Based Land
- $800,000
- Food Service
- $830,000
Location Insight
- Map
- Local Demand
- City
- Raeford
- County
- Hoke
- State
- North Carolina
- Longitude
- -79.2428
- Latitude
- 34.973
- CBSA code
- 22180
- CBSA name
- FAYETTEVILLE, NC METROPOLITAN STATISTICAL AREA
