Listed by Lee & Associates - Raleigh Durham
$1,382,850
1107 N. Broad St
Details
APN 780516944538
Property Type Retail
Sub Type Auto Shop
Square Footage 6,000
Cap Rate 7.00%
NOI $93,300
Brand/Tenant Advanced Auto Parts
Lease Type NN+
Lease Term 15
Remaining Term 2
Lease Options (3) 5-Year Options
Price per SqFt $230
Year Built 2008
Acreage 0.790
Zoning CH - Highway Commercial
Lease Commencement 05/11/2008
Rent Commencement 12/06/2008
Ownership Fee Simple
Retail | 7.00% CAP | 6,000 SF
Marketing description
This property is located at the intersection of N. Broad Street and Paradise Road, northeast of Downtown Edenton. It offers convenient access to nearby educational institutions like the College of The Albemarle and John A. Holmes High School, as well as many of the town’s major employers. Additionally, the site is easily accessible from Highway 17, enhancing its strategic location.
The property is currently occupied by Advance Auto, which holds a lease through December 2027. The lease includes three additional five-year renewal options, making it a stable and long-term investment opportunity.
Listing Contacts
Listed by Lee & Associates - Raleigh Durham
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Loan Amount
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Annual Debt Service
$--
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Annual Cash Flow
$93,300.00
$7,775.00/mo
Valuation Metrics
0
DSCR
6.75%
Cap Rate
6.75%
ROI
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