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Strickland Brothers 308 W Ehringhaus St 2,856 SF Retail Building Elizabeth City, NC 27909 $1,408,000 ($493.00/SF) 6.25% Cap Rate
Investment Highlights
- Brand-New 15-Year NNN Lease
- Rapidly Expanding Operator with Enhanced Credit Potential
- Strong Retail Corridor
- Excellent Corporate Guarantee
- Institutionally Backed
- Regional Shopping Destination
Executive Summary
Surmount is pleased to present the exclusive listing for a Strickland Brothers located at 308 West Ehringhaus Street, Elizabeth City, NC 27909. The site consists of roughly 2,856 rentable square feet of building space on an estimated .60-acre parcel of land. Strickland Brothers is subject to a 15-year Triple Net (NNN) lease, which commenced 11/5/2025. The current annual rent is $88,000 and has scheduled increases of 10.00% Every 5 Years.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Auto Repair
Building Size
2,856 SF
Building Class
C
Year Built
2002
Price
$1,408,000
Price Per SF
$493.00
Cap Rate
6.25%
NOI
$88,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.11
Lot Size
0.60 AC
Zoning
GB - General Business
Frontage
98’ on West Ehringhaus Street
Moderately walkable
70/100
Exceptionally drivable
90/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 891307782266 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $243,200 |
Property Taxes
Parcel Number
891307782266
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$243,200
Contacts
-
Matthew Anuszkiewicz -
Edward Otocka -
Gordon Pollock -
John McHugh -
Glen Kunofsky -
Christopher Marks -
Surmount
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