855 Glenn Brg Rd Arden, NC 28704-8411
- Breweries
- 9,170 SF
- 2.35 lot acres
Current Use by Public Records
- Dollar General / Convenience Store / Beauty Supply Store
Property Details for 855 Glenn Brg Rd
- Year built
- 2020
- Lot size
- 2.35 lot acres
- Property size
- 9,170 SF
- Zone code
- DEED DATE:03/23/2021 DEED
- Property type
- Breweries
- APN
- 9633-65-1405-00000
- APU
- 963365140500000
Description
This exceptional investment opportunity presents a fee-simple, single-tenant Dollar General property in Arden, North Carolina. The 9,100 square foot building, constructed in 2021, sits on a 2.65-acre lot and boasts a 100% occupancy rate. The absolute NNN lease, commenced February 16, 2021, features a 15-year initial term with five 5-year renewal options, each including a 10% rent increase. The current lease has 11.3 years remaining. The property generates a substantial net operating income (NOI) of $109,380, resulting in a 6.50% cap rate and a price per square foot of $184.92. The asking price is $1,682,769. Benefiting from a high-traffic location on Glenn Bridge Road (12,468 vehicles per day), the property is strategically positioned near Asheville Regional Airport and a population exceeding 57,200 within a 5-mile radius. This investment offers a low-risk, passive income stream with minimal landlord responsibilities, making it ideal for long-term growth and potential 1031 exchange opportunities. The property's prime location and strong tenant (Dollar General) with a corporate guarantee provide exceptional stability and return on investment. The building is a single-story structure. The address is 855 Glenn Bridge Rd, Arden, NC 28704.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,340,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,795,000
- 6.5%
- $1,720,000
- 7%
- $1,895,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,630,000
- Geo Method
- $1,985,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $2,025,000
- Retail
- $2,045,000
- Mixed-Use
- $1,740,000
- Hospitality
- $1,550,000
- Educational
- $1,530,000
- Residential Income
- $1,875,000
- Energy
- $1,995,000
- Income-Based Land
- $2,000,000
- Food Service
- $1,745,000
Location Insight
- Map
- Local Demand
- City
- Arden
- County
- Buncombe
- State
- North Carolina
- Longitude
- -82.5728
- Latitude
- 35.4434
- CBSA code
- 11700
- CBSA name
- ASHEVILLE, NC METROPOLITAN STATISTICAL AREA
