For Sale
$2,979,000

8831 Albemarle RdCharlotte, NC 28227

Aspen Dental Net Lease, 6.15% Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents a brand-new, 3,575 square foot medical office building in Charlotte, North Carolina. The property boasts a strong 10-year net lease with Aspen Dental Management, Inc., a nationally recognized corporate tenant with over 1,041 locations. The lease commenced July 2, 2024, and features 8% rent bumps every five years, ensuring consistent income growth. Situated on a 0.72-acre lot with 24 parking spaces, the building enjoys excellent visibility on Albemarle Road, a high-traffic area with 31,500 vehicles per day. Its prime location is directly across from a major retail center anchored by Lowe's and Target, offering over 266,269 square feet of retail space. The property benefits from a dense population base, with approximately 250,000 residents within a 15-minute drive and 1.6 million square feet of retail space within a one-mile radius. The building's proximity to major healthcare facilities, educational institutions (including the University of North Carolina Charlotte), and numerous popular retail destinations further enhances its appeal. The property's strong tenant, favorable lease terms, and strategic location make it an ideal investment for those seeking stable, long-term returns in a thriving market. The building was constructed in 2024 and offers a 6.15% cap rate with a net operating income (NOI) of $183,219. The asking price is $2,979,000. Lease options include 3 and 5-year extensions.

Highlights

  • 2024 new construction with a fresh 10-year lease.
  • Corporate guaranteed lease with Aspen Dental Management, Inc., operating over 1,041 locations nationwide.
  • High visibility from Albemarle Rd, boasting 31,500 vehicles per day.
  • Across from a Lowe's & Target-anchored center totaling 266,269 square feet of retail space.
  • Strong demographics: approximately 250,000 residents within a 15-minute drive.
  • Located in a dense retail corridor with 1.6 million square feet of retail within a one-mile radius.

Property Details for 8831 Albemarle Rd

Property type
Retail properties, Office properties
Square Feet
3,575 SF
Year Built
2024
Buildings
1
Lot Size (sq. ft)
31,363 SF

Location Insight

City
Charlotte
County
Mecklenburg
State
North Carolina
Latitude
35.211044
Longitude
-80.696945
8831 Albemarle Rd, Charlotte, North Carolina

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8831 Albemarle Rd
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