Aaron's Rental Portfolio - Newport

Retail-Commercial for Sale
Catylist Listing ID: 30407142
Property Subtypes: Retail-Pad, Other
Building Size (RSF): 8,000 SF
Sale Price: $1,477,145
Unit Price: $184.64 PSF
Property Use Type: Net Leased Investment (NNN)
Building Name: Aaron's
Usable Size (USF): 8,000 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: Morehead City
County: Carteret
Taxing Authority: Town of Newport
Tax ID/APN: 6338-11-66-908600
Zoning: CH (COMMERCIAL HIGHWAY)

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,464 11,986 24,276
Median Age: 40.69 38.76 39.74
Households: 526 4,676 9,743
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