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29141036
29141035

6027 N Tryon St, Charlotte, NC 28213

GK
NY 49KU1129178
SURMOUNT
KK
NY 10401321452
SURMOUNT
WB
NY 10401399346
SURMOUNT
Listed by SURMOUNT
$12,051,111
150 days on market
Updated 96 days ago

Adams Auto Group & Service Center

Details
Property Type Retail
Sub Type Auto Shop
Square Footage 12,000
Cap Rate 6.75%
NOI $813,450
Occupancy 100%
Tenancy Single
Lease Type NNN
Lease Term 15
Lease Expiration 11/01/2034
Remaining Term 8.4
Price per SqFt $1,004
Year Built 2015
Acreage 10.380
Tenant Credit Corporate Guarantee
Lease Commencement 10/31/2019
Ownership Fee Simple

Retail | 6.75% CAP | 12,000 SqFt

Marketing description

NNN Pro is pleased to present the exclusive listing for an Adams Auto Group & Service Center located at 6027 N. Tryon Street, Charlotte, NC 28213. The site consists of roughly 12,000 rentable square feet of building space on an estimated 10.38-acre parcel of land. This Adams Auto Group & Service Center is subject to a 15- year Triple Net (NNN) lease, which commenced 10/31/2019. The current annual rent is $813,450 and has scheduled increases of 10% every 5 years; 2% annually in the option period.

Investment highlights

  • Premier Provider of Quality Pre-Owned Vehicles | Adams Auto Group maintains a unique inventory with a variety of vehicles in both price and style, offering customers many different options to choose from. The company accepts any trade-in vehicles and consistently surpasses competitors' trade in values, ensuring that each and every customer gets the best deal possible.

  • Strong Reputation in the Carolinas | As a family-owned and operated business since 2007, Adams Auto Group has served the Carolinas with integrity, honesty, and a deep commitment to its customers. The company focuses on being deeply ingrained in the communities it serves, and trains its employees to serve every customer with the utmost respect and quality of service.

  • Absolute Triple Net (NNN) Lease with No Landlord Responsibilities | The subject property is subject to an original 15-year NNN lease with over 9 years remaining. The lease has no landlord responsibilities, offering potential buyers a true passive investment. There are 10% increases every 5 years during the base term and 2% annual increases in the 1, 5 year option period, providing a hedge against inflation.

  • Attractive Industry for Investment | The global used cars market was valued at $857.5 million in 2023, and is projected to reach $2 billion by 2033, growing at a CAGR of 8.9% from 2024 to 2033. Due to escalating costs for new vehicles, customers are increasingly opting to purchase used cars. This shift towards second-hand options creates a tailwind for companies in the used car auto dealership industry such as Adams Auto Group.

Listing Contacts

GK
NY 49KU1129178
SURMOUNT
KK
NY 10401321452
SURMOUNT
WB
NY 10401399346
SURMOUNT
Listed by SURMOUNT

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$
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$813,450.00
$67,787.50/mo

Valuation Metrics

0
DSCR
6.75%
Cap Rate
6.75%
ROI

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Additional Information

Name
Brian Brockman
License
RB14037939
Brokerage
Bang Realty, Inc
Title
Broker of Record
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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