406 Paragon PkwyClyde, NC 28721

Property Details for 406 Paragon Pkwy

Year built

2023

Lot size

1.09 AC

Property size (Sq ft)

10,044 SF

Property type

Retail properties

Property subtype

Grocery and convenience stores

Description

This exceptional investment opportunity presents a single-tenant, net-leased Dollar Tree convenience store located at 406 Paragon Pkwy, Clyde, NC 28721, within the Asheville, NC MSA. The property boasts 10,044 square feet on a 1.09-acre lot and was newly constructed in 2023. The building features a single story and is zoned for commercial use. The property benefits from a strong 10-year lease commencing March 16, 2023, and expiring March 31, 2033, leaving approximately 8.4 years remaining. The lease is a triple-net (NNN) lease with a credit-rated, corporate-guaranteed tenant, providing significant security and minimizing landlord responsibilities. The asking price is $2,912,754, translating to a price per square foot of $290 and a compelling 6.50% cap rate based on a current Net Operating Income (NOI) of $189,329. The property enjoys 100% occupancy since its opening on March 16, 2023. Its location on Hwy 74/19 (Paragon Pkwy) benefits from a high volume of daily traffic, estimated at approximately 38,000 vehicles. This investment is ideally suited for those seeking a stable, recession-resistant, and e-commerce-resistant asset with a long-term lease and strong tenant.

Location Insight

City

Clyde

County

Haywood

State

North Carolina

Latitude

35.5265

Longitude

-82.9517

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