7532 Tryon StCharlotte, NC 28217

Property Details for 7532 Tryon St

Year built

2020

Lot size

1.58 AC

Property size (Sq ft)

7,544 SF

Property type

Retail space

APN

20137148

APU

20137148

Description

This exceptional investment opportunity presents a fee-simple interest in a Class A, 7,584-square-foot O'Reilly Auto Parts store situated on a sizable 1.58-acre lot in Charlotte, NC. Built in 2020, the property boasts upgraded brick and stucco construction, architectural lighting, and a concrete parking lot. The 15-year net lease (NN+), with corporate guarantee from O'Reilly Auto Parts, commenced September 1, 2020, and expires August 31, 2035, leaving a substantial 10.8 years remaining. The lease includes four, five-year options with a 6% rent increase in year 11 and within each option period. The property enjoys a prime location on South Tryon Street, a major retail thoroughfare with over 35,000 vehicles passing daily, and benefits from proximity to Interstate 485 and Interstate 77, placing it within easy reach of Uptown Charlotte. Strong surrounding tenancy includes Publix, Lowe's, Walmart, and other national retailers. The property's high visibility, substantial lot size (allowing for future development), and investment-grade tenant make this a compelling offering with a current NOI of $148,026 and a 5.25% cap rate. The landlord is responsible for roof, structure, and parking lot replacement. The building features a 25-year transferable roof warranty.

• CAP approach

  CAP return

  Valuation

  6%

  $1,987,220

  6.5%

  $1,834,360

  7%

  $1,703,330

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,328,600

  Geo Method

  $1,328,600

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $3,529,570

  Mixed-Use / Specialty

  $1,847,050

  Hospitality / Lodging

  $1,380,170

  Office

  $1,856,110

  Institutional / Educational

  $1,927,060

  Residential Income

  $2,254,660

  Multifamily

  $2,597,490

  Automotive / Energy

  $1,651,770

  Parking / Income-Based Land

  $551,001

  Restaurant / Food Service

  $1,001,720

  Healthcare / Senior Housing

  $1,874,390

Location Insight

City

Charlotte

County

Mecklenburg

State

North Carolina

Latitude

35.1497

Longitude

-80.9257

CBSA code

16740

CBSA name

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

Property Tax & Assessments

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