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MyEyeDr 1227 Brentway Ave 3,748 SF Retail Building Williamston, NC 27892 $1,325,000 ($353.52/SF) 6.84% Cap Rate
Investment Highlights
- Single-tenant NN lease with strong credit tenant in place until April 2031.
- NOI: $90,651
- Surrounded by national retailers including Walmart, Walgreens, and Dollar Tree.
- CAP Rate: 6.84%
- Positioned along US Highway 17 with strong visibility.
Executive Summary
This single-tenant property offers an investment opportunity with a well-established national tenant, MyEyeDr., operating under a NN lease structure. The property is priced at $1,325,000 with a cap rate of 6.84%, generating an annual NOI of $90,651. Situated along US Highway 17 with visibility to over 10,000 vehicles per day, the site benefits from strong traffic exposure and proximity to major retailers including Walmart, Walgreens, Taco Bell, and Murphy USA.
The tenant, MyEyeDr., provides comprehensive eye health services and boasts a strong national presence with over 500 locations in 32 states. The current lease runs through April 30, 2031, featuring 2% annual rental increases. This stability, combined with limited landlord responsibilities, ensures consistent income generation for investors. The 1.19-acre parcel includes a well-maintained 3,748 SF building constructed in 2009, surrounded by ample parking and enhanced landscaping. Positioned less than one mile from Downtown Williamston, the property is supported by surrounding residential communities and a robust retail trade area.
The tenant, MyEyeDr., provides comprehensive eye health services and boasts a strong national presence with over 500 locations in 32 states. The current lease runs through April 30, 2031, featuring 2% annual rental increases. This stability, combined with limited landlord responsibilities, ensures consistent income generation for investors. The 1.19-acre parcel includes a well-maintained 3,748 SF building constructed in 2009, surrounded by ample parking and enhanced landscaping. Positioned less than one mile from Downtown Williamston, the property is supported by surrounding residential communities and a robust retail trade area.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
3,748 SF
Building Class
C
Year Built
2009
Price
$1,325,000
Price Per SF
$353.52
Cap Rate
6.84%
NOI
$90,651
Tenancy
Single
Building Height
1 Story
Building FAR
0.05
Lot Size
1.90 AC
Opportunity Zone
Yes
Zoning
Commercial - Commercial
Parking
37 Spaces (9.87 Spaces per 1,000 SF Leased)
Frontage
509’ on Brentway Avenue
Fairly walkable
40/100
Exceptionally drivable
100/100
Somewhat bikeable
20/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 0505804 | Improvements Assessment | $458,070 |
| Land Assessment | $388,120 | Total Assessment | $846,190 |
Property Taxes
Parcel Number
0505804
Land Assessment
$388,120
Improvements Assessment
$458,070
Total Assessment
$846,190
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