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825 Blowing Rock Blvd
Lenoir, NC 28645
AT&T | FastMed Urgent Care · Retail Property For Sale
Investment Highlights
- 100% Occupied by AT&T and FastMed Urgent Care on Modified NNN Leases with Annual Escalations & Minimal Landlord Responsibilities | WALT of ±3.9 Years
- Nation’s Largest Privately Held AT&T Authorized Retailer | Prime Comms Retail, LLC is AT&T’s Largest Privately Held Authorized Retailer
- Strategically Positioned on Blowing Rock Blvd (28,500+ VPD) | Outparcel to a Planet Fitness & Dunham’s Sports with Nearly 1M Annual Visits (placer.ai)
- Long-Term Operating History | Both Tenants Have Been In-Place for Over 10 Years | AT&T Recently Exercised Their First 3-Year Option
- FastMed Urgent Care is a Growing Brand with 44 Locations | Now Owned by CuraCor, a Subsidiary of Blue Cross Blue Shield of NC (S&P: A+)
- Primely Located in a Dense Retail Corridor | Neighboring Center Anchored by a Walmart Supercenter
Executive Summary
Northmarq is pleased to present to qualified investors the opportunity to acquire the fee simple interest in the North Hill Plaza, located at 825 Blowing Rock Blvd, in Lenoir, North Carolina. The subject property is fully occupied by AT&T and FastMed Urgent Care on Modified NNN leases with annual escalations, minimal landlord responsibilities, and a WALT of roughly 3.9 years. Both tenants have been in place for over 10 years, with AT&T recently executing their first renewal option. The AT&T franchisee, Prime Comms Retail, LLC, is the nation’s largest privately held AT&T authorized retailer with nearly 2,000 locations nationwide. FastMed Urgent Care is backed by Blue Cross Blue Shield of North Carolina (S&P: A+) and operates 44 locations across the state with limited urgent care competition in the Lenoir market. Primely located along Blowing Rock Blvd (28,500+ VPD), the property is an outparcel to a Planet Fitness and Dunham’s Sports anchored center with nearly 1 million annual visits (placer.ai), and the neighboring center is anchored by a Walmart Supercenter.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
4,800 SF
Building Class
B
Year Built
2009
Price
$2,217,000
Price Per SF
$461.88
Cap Rate
6.75%
NOI
$149,720
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.16
Lot Size
0.67 AC
Opportunity Zone
Yes
Zoning
B-2 - allows for a variety of retail, service, and other commercial activities
Parking
34 Spaces (7.08 Spaces per 1,000 SF Leased)
Frontage
80’ on Blowing Rock Blvd
Amenities
- Signage
Property Taxes
| Parcel Number | 09-48-1-9C | Improvements Assessment | $504,500 |
| Land Assessment | $559,900 | Total Assessment | $1,064,400 |
Property Taxes
Parcel Number
09-48-1-9C
Land Assessment
$559,900
Improvements Assessment
$504,500
Total Assessment
$1,064,400
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