For Sale
$3,453,000

8641 South BlvdCharlotte, NC 28273

Charlotte, NC: High-Yield NNN Investment

Overview

Added:
Dec 11, 2024
Days on market:
117
This exceptional retail investment opportunity presents a fee-simple ownership of a 5,441 square foot, Class A retail center in Charlotte, NC. Anchored by a high-performing 7-Eleven franchisee with a corporate guarantee, the property boasts 100% occupancy with two tenants: 7-Eleven and Kure Vapor. Built in 2015, the property sits on a 0.98-acre lot and features a strong net operating income (NOI) of $248,599, translating to a 7.20% cap rate. The investment benefits from a multi-tenant structure with a 4 x 5-year lease option and attractive lease fundamentals, including a 10% rent bump every five years, starting in 2025. The property's prime location at the lighted intersection of Sharon Rd W and South Blvd, across from a light rail stop and near significant residential and industrial development, ensures consistent high traffic and strong tenant demand. The current lease with Kure Vapor offers a re-leasing upside potential for the next owner, given its minimal remaining term and the possibility of leasing the space at market rates (estimated in the upper $20s per square foot). This offering presents a compelling opportunity to acquire a well-positioned, high-performing retail asset in a rapidly growing market. The property's strong tenant mix, favorable lease terms, and strategic location combine to create a robust and stable investment with significant long-term growth potential. The Charlotte MSA's robust population and job growth projections further enhance the investment's appeal.

Highlights

  • Attractive Net Lease Structure: NNN leases minimize landlord responsibilities.
  • Significant Rent Increase: 7-Eleven's 10% rent increase in 2025 boosts annual returns.
  • Strong Credit Tenant: 7-Eleven anchors the center.
  • Exceptional Location: Situated at a high-traffic intersection (Sharon Rd W & South Blvd) with excellent visibility and proximity to the Sharon Rd West Light Rail station (over 13M annual riders).
  • Dense Population & Employment: Over 3,800 apartment units and 2.7M SF of industrial space within a 1-mile radius, plus proximity to a major employer (Campbell Snacks).
  • Significant Re-Leasing Potential: Kure Vapor's lease expiration offers substantial upside potential for rent increases.

Property Details for 8641 South Blvd

Property type
Retail properties, Retail space
Square Feet
5,441 SF
Class
A
Year Built
2015
Lot Size (sq. ft)
42,689 SF
Units
2

Location Insight

City
Charlotte
County
Mecklenburg
State
North Carolina
Latitude
35.119616458799
Longitude
-80.880835495776
8641 South Blvd, Charlotte, North Carolina

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8641 South Blvd
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