201 Freedom WayJacksonville, NC 28544

Property Details for 201 Freedom Way

Year built

1988

Lot size

0.74 AC

Property size (Sq ft)

6,000 SF

Zone code

CC

Property type

Industrial properties

Property subtype

Other industrial properties

APN

30899

APU

30899

Description

This 6,000 square foot auto parts retail building in Jacksonville, NC, presents a compelling investment opportunity. Currently 100% occupied by Advance Auto Parts, a publicly traded company (NYSE: AAP) with a strong credit rating (S&P Global: BB+, Moody's: Baa3), the property boasts a long operating history at this location since 1988. The lease, a Net Net (NN) single-tenancy agreement, has a remaining term of approximately 4.1 years, expiring December 31, 2028, with two, five-year lease options. The property features a strong rent-to-sales ratio of approximately 4% and a current NOI of $63,204, yielding a 7.50% cap rate. Recent improvements include a new roof and parking lot within the last five years. Its strategic location is outparceled to a 96% leased, approximately 150,000 square foot shopping center anchored by Food Lion, less than 10 miles from Camp Lejeune and under 20 miles from Onslow Beach. Alpha Maps data ranks this location in the 80th percentile nationally, indicating a prime retail location with below-market rents, presenting a significant value-add opportunity. The property's strong tenant, long lease history, and recent improvements make it an attractive investment with significant upside potential.

Location Insight

City

Midway Park

County

Onslow

State

North Carolina

Latitude

34.7172

Longitude

-77.3244

CBSA code

27340

CBSA name

JACKSONVILLE, NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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