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Advanced Auto Parts 2142 Rocky River Rd 6,404 SF Retail Building Charlotte, NC 28213 $1,973,378 ($308.15/SF) 6.75% Cap Rate
INVESTMENT HIGHLIGHTS
- Rare 10% rent increase every five years including option periods. Next rent bump in March 2029 pushing cap rate to 7.4%.
- Tenant has occupied this location for over 15 years and recently renewed for an additional 10 years demonstrating strong commitment to the site.
- Situated off East W.T. Harris Blvd - Interstate 24 (39K VPD) a major transportation artery connecting Charlotte to regional and national markets.
EXECUTIVE SUMMARY
Long Term, NNN Lease: 9 years remaining, with the landlord responsible only for the structure, ensuring minimal obligations.
Strong Tenant: The lease is corporately guaranteed by Advance Auto Parts, a stable and reliable tenant with over 4,700 locations nationwide.
Strong Tenant: The lease is corporately guaranteed by Advance Auto Parts, a stable and reliable tenant with over 4,700 locations nationwide.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
6,404 SF
Building Class
C
Year Built
2009
Price
$1,973,378
Price Per SF
$308.15
Cap Rate
6.75%
NOI
$133,203
Tenancy
Single
Building Height
1 Story
Building FAR
0.16
Lot Size
0.91 AC
Zoning
NS
Parking
22 Spaces (3.44 Spaces per 1,000 SF Leased)
Frontage
85’ on Wt Harris Blvd
AMENITIES
- Freeway Visibility
- Pylon Sign
- Signage
PROPERTY TAXES
| Parcel Number | 105-082-16 | Improvements Assessment | $612,400 |
| Land Assessment | $402,800 | Total Assessment | $1,015,200 |
PROPERTY TAXES
Parcel Number
105-082-16
Land Assessment
$402,800
Improvements Assessment
$612,400
Total Assessment
$1,015,200
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Advanced Auto Parts | 2142 Rocky River Rd
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