981 High Pt St Randleman, NC 27317-7378
Property Lookup
Property profile & analytics
981 High Pt St Randleman, NC 27317-7378
- Retail space
- 7,581 SF
- 0.75 lot acres
Property ID
US53-2004044
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Advance Auto Parts / Auto Parts Store
- UPS Access Point location / Courier Service / Postal Service
Property Details for 981 High Pt St
- Year built
- 2005
- Lot size
- 0.75 lot acres
- Property size
- 7,581 SF
- Zone code
- B2
- Property type
- Retail space
- APN
- 7755650059
- APU
- 7755650059
Description
This exceptional investment opportunity presents a 7,000 square foot Advance Auto Parts store located in Randleman, North Carolina. The property, situated on a 0.74-acre lot, enjoys a prime outparcel location adjacent to a Walmart Supercenter, benefiting from high traffic volume on High Point Street (14,000 vehicles per day) and Interstate 73 (22,500 vehicles per day). The Walmart Supercenter alone attracts over 1.6 million customers annually, providing significant consumer traffic for the auto parts store. Other nearby businesses include Wendy's, Bojangles, Taco Bell, and Sheetz. The property is part of the Greensboro-High Point-Winston-Salem MSA, a major manufacturing and transportation hub with a population exceeding 1.6 million. The tenant, Advance Auto Parts, is the largest automotive aftermarket parts provider in North America, boasting over 4,457 stores and $11.3 billion in 2021 revenue. This high-performing location features a strong rent-to-sales ratio. The current lease, a Net Lease (NN) with a corporate guarantee, has a remaining term of eight years, extending to November 30, 2032, with three five-year options. Rent increases are structured at 10% for the first option and 7% for the subsequent two. The landlord's responsibilities are limited to the building structure; the tenant is responsible for all repairs, including the roof, parking lot, and HVAC, as well as taxes, insurance, and utilities. The property offers a 6.75% cap rate with a net operating income (NOI) of $98,400 and an asking price of $1,458,000. Built in 2004, this investment presents a compelling opportunity within a thriving market.
Value Estimations
based on Realmo’s proprietary methodology
-
CAP approach
- CAP Return
- Estimation
- 6%
- $1,635,000
- 6.5%
- $1,510,000
- 7%
- $1,400,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $824,000
- AI Estimate
- $1,008,000
Market price range: $335k - $824kMarket price range: $364k - $1.01M -
Alternative Use
- Use
- Estimation
- APARTMENT HOUSE (5+ UNITS)
- $950,000
- RESTAURANT
- $920,000
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Randleman
- County
- Randolph
- State
- North Carolina
- Longitude
- -79.8227
- Latitude
- 35.8221
- CBSA code
- 24660
- CBSA name
- GREENSBORO-HIGH POINT, NC METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$11,083
$258,500
$722,260
$980,760
-
$258,500
$722,260
$980,760
