5206 Carolina Beach Rd
Wilmington, NC 28412
Retail Property For Sale

Marcus & Millichap is pleased to present for sale a 7,000 square foot single-tenant building located in Wilmington, North Carolina. The subject property was constructed in 2001 and is occupied by Advance Auto Parts. The tenant signed a 10-year double-net (NN) lease in 2012 and has three years left with two (2) five-year renewal options with significant rent increases in each option. The Landlord is responsible for the roof, structure, and parking area. With valuable underlying real estate and below-market rent in a dense retail corridor, an investor should be able to replace or increase rents if Advance Auto chooses not to remain after its current lease term expires. The subject property is positioned near the signalized intersection of Carolina Beach Road and South College Road, also known as the growing Monkey Junction area. Interest generators in the area include a Walmart Supercenter, Lowe’s, Chick Fil-A, Arby’s, Lowes Food, Dollar Tree, Home Depot, Staples, and more. Traffic counts directly outside the property on Carolina Beach Road are 30,000 vehicles per day. There are 31,000 vehicles per day on South College Road. There are approximately 81,029 people within a five (5) mile radius of the subject property with an average household income of $78,261.