224 Nc-801Advance, NC 27006

Property Details for 224 Nc-801

Year built

2024

Lot size

1.24 AC

Property type

Retail properties

Property subtype

Grocery and convenience stores

Description

This exceptional investment opportunity presents a newly constructed (2024), 100% occupied Dollar Tree retail property located at 224 NC-801, Bermuda Run, NC 27006. The 1.24-acre site boasts a prime location with high visibility, situated off I-40, experiencing over 52,000 vehicles per day. The property features a 10-year net lease (NN+) with a credit-rated, corporate-guaranteed tenant, Dollar Tree, offering significant financial stability. The lease includes five, five-year options with $5,000 rent bumps per option ($0.50 PSF). The asking price is $2,823,776, yielding a 7.15% cap rate and a net operating income (NOI) of $201,900. The property benefits from a strong surrounding community, with a 5-mile radius population of 40,256 and a 10-mile radius population of 161,307, exhibiting a robust average household income of $106,358. Nearby national tenants include Wendy's, McDonald's, Subway, and more, further enhancing the location's appeal. The property also includes a 20-year transferable roof warranty. This is a rare opportunity to acquire a high-performing, low-maintenance retail investment with a strong tenant and excellent long-term growth potential. Lease commencement is November 5, 2024, and expiration is November 30, 2034.

Location Insight

City

Advance

County

Davie

State

North Carolina

Latitude

36.0081

Longitude

-80.4431

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