3209 Nc-87Sanford, NC 27332

Property Details for 3209 Nc-87

Year built

2024

Lot size

0.67 AC

Property size (Sq ft)

1,425 SF

Property type

Retail properties

Property subtype

Grocery and convenience stores

Description

This exceptional investment opportunity presents a brand-new, 1,425 square foot, single-story retail building in Sanford, NC (Lee County, zip code 27332). Located at 3209 NC-87, this property boasts a prime location with over 36,000 vehicles passing daily. The property is currently 100% occupied by a triple-net (NNN) lease with a credit-rated, corporate-guaranteed franchisee (Jiffy Lube, Take 5 Oil Change, and Valvoline) for a 15-year term commencing March 1, 2024, and expiring March 31, 2039. The lease includes six, five-year renewal options with a 10% rent increase every five years, starting in year six. The asking price is $2,191,750, offering a 6.00% cap rate and a net operating income (NOI) of $131,505. Built in 2024 on a 0.67-acre lot, this property features a large three-bay design to accommodate high sales volume. The strong tenant, a leader in the drive-thru oil change industry, operates approximately 750 locations nationwide and is part of a larger organization with over 4,800 locations globally. The 5-mile radius boasts a population of 26,400 with an average household income of $85,915, making this an ideal location for this type of business. This property qualifies for bonus depreciation (consult your tax professional). This is a rare opportunity to acquire a high-performing, low-maintenance investment with significant long-term growth potential.

Location Insight

City

Sanford

County

Lee

State

North Carolina

Latitude

35.4477

Longitude

-79.129

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].