NNN Investment - Leland, NC

Retail-Commercial for Sale
Catylist Listing ID: 30542208
Property Subtypes: Restaurant
Building Size (RSF): 1,600 SF
Gross Land Area: 0.54 Acres
Sale Price: $280,000
Unit Price: $175 PSF
In Opportunity Zone? Yes
Property Use Type: Net Leased Investment (NNN), Investment
Usable Size (USF): 1,600 SF
Sale Terms: Cash to Seller
Cap Rate: 7.5%
Average Occupancy Rate: 100
Last Updated: 8/25/2020

Overview / Comments

7.5% Cap Rate. Leased restaurant investment in a high visibility corner location. Tenant in the first year of a 5 year lease. The building has been upgraded and is in great condition.

Financials

Finance Data Year 2020
Real Estate Taxes - Annual($) $1,937 (Annual)
Potential Rental Income $24,000 (Annual)
Net Operating Income $20,000 (Annual)
Actual or Proforma Year Proforma

Additional Details

Nearest MSA: Myrtle Beach-Conway-North Myrtle Beach
County: Brunswick
Taxing Authority: Leland, NC
Tax ID/APN: 038AA008
Zoning: T-4O GENERAL URBAN OPEN
Retail Clientele: General, Family, Business, Traveler, Tourist
Property Visibility: Excellent
Largest Nearby Street: Village road
Feet of Frontage: 300
Traffic/Vehicle Count: 8,546
Site Description: Corner location at the intersection of Village Rd and S Navassa Rd
Area Description: Leland NC is the largest town in Brunswick County which is in the top 5 fastest growing counties in the country. The 10 Fastest-Growing Counties in the U.S. Williams County, North Dakota. Comal County, Texas. Kaufman County, Texas. Brunswick County, North Carolina. Walton County, Florida. Midland County, Texas. Osceola County, Florida. St. Johns County, Florida.
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 1,600 SF
Property Condition: Excellent
Year Built: 1969
Year Renovated: 2020
Parking Type: Surface
Water Service: Municipal
Sewer Type: Septic

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,838 13,454 56,474
Median Age: 34.93 39.68 39
Households: 780 5,592 24,585

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