For Sale
$2,177,000

393 Mills St Columbus, NC 28722

High-yield NNN lease, strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
127
This Columbus, NC, fee-simple retail property offers a compelling investment opportunity. The 5,223 square-foot convenience store and gas station, operating under a 15-year absolute NNN lease (expiring April 30, 2037, with 12.4 years remaining), boasts a 6.00% cap rate and a $130,648 annual NOI. The property features a credit-rated tenant, GPM Investments (Road Runner), with a lease including four 5-year renewal options and 10% rent bumps every five years. Built in 1998, this 1.25-acre site enjoys excellent visibility and accessibility, situated on W Mills St (13,000 VPD) with convenient access to I-26 (44,000 VPD). The location benefits from a strong demographic profile, including over 11,000 residents and 5,000 employees within a 5-mile radius, and an average household income of $90,173. Nearby retailers include Food Lion, Family Dollar, McDonald's, and Wendy's. The property is a management-free investment, with the tenant responsible for all CAM, taxes, and insurance. Asking price: $2,177,000.

Highlights

  • Absolute NNN lease; fee simple ownership; zero landlord responsibilities.
  • High-traffic location on W Mills St (13,000 VPD), with I-26 access (44,000 VPD); strong co-tenancy including Food Lion, Family Dollar, McDonald's, and Wendy's.
  • Densely populated 5-mile trade area with over 11,000 residents, 5,000 employees, and a $90,173 average household income.

Property Details for 393 Mills St

Property type
Retail properties, Grocery and convenience stores
Year Built
1998
Lot Size (sq. ft)
54,450 SF

Location Insight

City
Columbus
County
Polk
State
North Carolina
Latitude
35.2469972
Longitude
-82.2043067
393 Mills St, Columbus, North Carolina

FAQs

What type of property is this?
Retail property - High-yield NNN lease, strong tenant.
Where is the retail property located?
The property is located at 393 Mills St Columbus, NC.
What is the asking price?
The asking price for this property is $2,177,000.
What are key features of this property?
This property features: Absolute NNN lease; fee simple ownership; zero landlord responsibilities.; High-traffic location on W Mills St (13,000 VPD), with I-26 access (44,000 VPD); strong co-tenancy including Food Lion, Family Dollar, McDonald's, and Wendy's.; Densely populated 5-mile trade area with over 11,000 residents, 5,000 employees, and a $90,173 average household income.
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393 Mills St
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