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9825 McKay Rd
Charlotte, NC 28269
Armstrong Gardens Corp Guaranty | 14yrs NNN · Retail Property For Sale
Investment Highlights
- 14 Years Remaining | 10% Increases Every 5 Years
- Strategic Charlotte Location | Interstate 485 Frontage (82,800 VPD)
- Adjacent to Major New Residential Growth | Prosperity Junction (270 Units) Under Construction Directly Across I-485
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
- Strong Retail Corridor | Surrounded by National Tenants
- Growing 5-Mile Trade Area | Strong Population & Employment Base
Executive Summary
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, Pike Nurseries investment property located in Charlotte, North Carolina. The tenant, Pike Nurseries has 14 years remaining on their lease with 2 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for an out of state investor.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
12,268 SF
Building Class
B
Year Built
2020
Price
$7,301,000
Price Per SF
$595.13
Cap Rate
5.65%
NOI
$412,500
Tenancy
Single
Building Height
1 Story
Building FAR
0.12
Lot Size
2.32 AC
Zoning
CC(CD)
Parking
66 Spaces (5.38 Spaces per 1,000 SF Leased)
Frontage
290’ on McKay Rd
Amenities
- Dedicated Turn Lane
- Freeway Visibility
- Signage
- Monument Signage
Property Taxes
| Parcel Number | 027-561-30 | Improvements Assessment | $2,753,100 |
| Land Assessment | $2,742,900 | Total Assessment | $5,496,000 |
Property Taxes
Parcel Number
027-561-30
Land Assessment
$2,742,900
Improvements Assessment
$2,753,100
Total Assessment
$5,496,000
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