110 Mccullough Dr
Charlotte, NC 28262
Retail Property For Sale

Marcus & Millichap is pleased to present a 5,678 square foot single-tenant Verizon Wireless property located at 110 E McCullough Drive, in Charlotte, North Carolina. The subject property is positioned on 1.1+/- acres at the signalized intersection of N. Tryon and E McCullough Dr. The property was constructed in 2000 as a Bob Evans Restaurant and was updated in 2008 for Verizon Corporate (Cellco Partnership: S&P BBB+ Credit). The initial 10-year, double-net (NN) lease commenced in January 2008 and it had a 7-year kickout (which the tenant did not exercise). After the initial 10-year term, the tenant exercised a five-year renewal with a 10-percent rental increase (as stated in the lease) and there is one additional five-year option remaining. The property is located on the recently widened North Tryon Street and benefits from excellent visibility and easy access from a signalized corner. The property will soon benefit from a Blue Line Extension of the LYNX light rail. The new McCullough stop is within walking distance of the property and opened in 2018. The entire University area is expecting growth due to the LYNX Blue Line Extension Project which connects the Northeast Corridor (UNC Charlotte campus) and Uptown through the LYNX BLE. The subject property is within one (1) mile of Atrium Health University City Hospital, an acute care hospital with 130-beds, and it’s also within one (1) mile of the campus for UNC-Charlotte (29,700 students).