For Sale
$2,335,712

3223 Battleground Ave Greensboro, NC 27408

High-yield NNN lease, strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
138
This exceptional investment opportunity presents a 1,308 square foot, single-tenant auto shop located at 3223 Battleground Ave, Greensboro, NC 27408. The property sits on a 0.52-acre lot and is a single-story, 2023-built building currently occupied by Strickland Brothers 10 Minute Oil Change under an Absolute NNN lease. The lease features a 14-year remaining term expiring October 31, 2038, with 10% rent bumps every five years and four 5-year lease options. The current asking price is $2,335,712, representing a price per square foot of $1,785.71 and a 6.25% cap rate. The property boasts a 100% occupancy rate, generating a Net Operating Income (NOI) of $145,982. Strickland Brothers provides drive-thru oil change services, including oil changes, filter replacements, and a complimentary maintenance check. The tenant is backed by Princeton Equity Group, a firm with a proven track record of growing emerging brands. This investment offers a compelling combination of strong tenant performance, a long-term lease, and significant upside potential given the tenant's growth trajectory and the favorable market conditions. The property's location in Greensboro, NC, within a major metropolitan area, further enhances its appeal. This is a rare opportunity to acquire a high-yield, low-risk investment in a rapidly expanding national brand.

Highlights

  • 6.90% blended initial capitalization rate.
  • Corporate guarantee on a 170+ unit property.

Property Details for 3223 Battleground Ave

Property type
Retail properties, Auto shops
Square Feet
1,308 SF
Year Built
2023
Buildings
1
Stories
1
Lot Size (sq. ft)
22,651 SF
Units
1

Location Insight

City
Greensboro
County
Guilford
State
North Carolina
Latitude
36.1196402
Longitude
-79.8420823

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 3223 Battleground Ave Greensboro, NC.
What is the asking price?
The asking price for this property is $2,335,712.
What are key features of this property?
This property features: 6.90% blended initial capitalization rate.; Corporate guarantee on a 170+ unit property.;
How can I contact the broker?
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3223 Battleground Ave
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