316 George W Liles PkwyConcord, NC 28027

Property Details for 316 George W Liles Pkwy

Year built

2022

Construction

CONCRETE

Lot size

0.70 AC

Property size (Sq ft)

4,389 SF

Zone code

C-1

Property type

Healthcare properties

Property subtype

Medical offices

APN

5600 47 4870

APU

5600474870

Description

This exceptional investment opportunity presents a fee-simple ownership of a 4,262 square foot Class A storefront, currently 100% occupied by Heartland Dental under a corporate-guaranteed net-net lease. Located at 316 George W Liles Pkwy, Concord, NC 28027, this property boasts a prime location in a high-income area of the Charlotte MSA, with an average household income exceeding $130,943 within a two-mile radius. The 10-year lease, commencing August 25, 2022, and expiring August 30, 2032, includes 10% rent bumps every five years, providing a built-in hedge against inflation. The property features 121 feet of road frontage, cross access to a lighted intersection, and excellent visibility. Its proximity to Harris Teeter and I-85 further enhances its desirability. The 1.35-acre lot houses a single-story building constructed in 2022, generating a strong NOI of $182,840 and a 5.85% cap rate. The lease includes four five-year renewal options. This investment is situated in a rapidly growing area, with a 33% population increase between 2010 and 2020 and a population of 108,000 within a five-mile radius. The property's location near several schools, including West Cabarrus High School, further contributes to its appeal. The asking price is $3,125,000. This is a rare opportunity to acquire a high-performing, low-maintenance investment property in a thriving market.

• CAP approach

  CAP return

  Valuation

  6%

  $1,058,082

  6.5%

  $976,691

  7%

  $906,928

• Comparable approach

  Method

  Valuation

  Relative Method

  $743,233

  Geo Method

  $743,233

• Alternative Use

  Use

  Valuation

  Residential

  $1,211,097

  Hospitality

  $1,109,358

  Educational

  $922,973

  Medical

  $954,716

  Retail

  $1,435,736

Location Insight

City

Concord

County

Cabarrus

State

North Carolina

Latitude

35.4086

Longitude

-80.6631

CBSA code

16740

CBSA name

CHARLOTTE-CONCORD-GASTONIA, NC-SC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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