Aaron's Rental Portfolio - Albemarle

Retail-Commercial for Sale
Catylist Listing ID: 30407150
Property Subtypes: Retail-Pad, Other
Building Size (RSF): 7,000 SF
Sale Price: $1,350,000
Unit Price: $192.86 PSF
Property Use Type: Net Leased Investment (NNN)
Building Name: Aaron's
Usable Size (USF): 7,000 SF
Sale Terms: Undisclosed
Cap Rate: Undisclosed
Last Updated: 5/13/2019

Overview / Comments

Cape Fear Commercial is pleased to present a portfolio of three, single-tenant, net investments for sale, which can be purchased individually or as a single portfolio.

The properties are leased to a single, franchise operator of Aaron’s, a lease-to-own retailer, that will execute new 10 year, triple-net lease that will commence at closing.

The stores are located in Newport, Albemarle, and Rockingham, North Carolina, and have been in business (opened by the current franchise) since September 2010, October 2012, and December 2004, respectively.

INVESTMENT HIGHLIGHTS
Single tenant investment
True, triple-net lease
Brand new 120 month terms
Proven operator and core markets
All stores grossed over $1 million (2018)

Additional Details

Nearest MSA: Charlotte-Concord-Gastonia
County: Stanly
Taxing Authority: City of Albemarle
Tax ID/APN: 6558-03-12-0358
Zoning: GHBD GENERAL HIGHWAY BUSINESS DISTRICT

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,685 14,624 24,639
Median Age: 31.63 39.15 40.51
Households: 692 6,091 9,744
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