Main Street Auto 38 Heritage Park Dr 4,776 SF Retail Building Fletcher, NC 28732 $2,841,429 ($594.94/SF) 7% Cap Rate
INVESTMENT HIGHLIGHTS
- Brand New, Long-Term, 20-Year Absolute Triple Net (NNN) Lease
- Corporate Guarantee
- Attractive Rental Increases
EXECUTIVE SUMMARY
NNN Pro is pleased to present the exclusive listing for a Main Street Auto located at 38 Heritage Park Drive, Fletcher, North Carolina 28732. The site consists of roughly 4776 rentable square feet of building space on an estimated 0.32-acre parcel of land. This Main Street Auto is subject to a 20-year Triple Net (NNN) lease, which commenced 12/17/2024. The current annual rent is $198,900 and has scheduled increases of 2.00% Annually Starting Year 6.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Auto Repair
Building Size
4,776 SF
Building Class
C
Year Built
2000
Price
$2,841,429
Price Per SF
$594.94
Cap Rate
7%
NOI
$198,900
Tenancy
Single
Building Height
1 Story
Building FAR
0.34
Lot Size
0.32 AC
Zoning
1017098~RC - Retail commercial
Parking
9 Spaces (1.88 Spaces per 1,000 SF Leased)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 1017098 | Improvements Assessment | $266,400 |
| Land Assessment | $111,500 | Total Assessment | $377,900 |
