Listed by Atlantic Capital Partners
$1,742,000
Verizon Wireless | Winston-Salem, NC
Details
Property Type Retail
Sub Type Storefront, Cellular Services
Square Footage 3,102
Cap Rate 6.25%
NOI $108,900
Occupancy 100%
Tenancy Single
Brand/Tenant Verizon Wireless, AT&T
Lease Type NN
Lease Term 15
Lease Expiration 01/31/2031
Remaining Term 4.6
Rent Bumps Yes
Lease Options 1 x 5 Years
Price per SqFt $562
Broker Co-Op Yes
Class A
Year Built 1969
Year Renovated 2015
Acreage 0.460
Investment Type Net Lease
Tenant Credit Franchisee
Lease Commencement 02/01/2016
Ownership Fee Simple
6.25% CAP | Cellular Sales Franchisee - 780 locations in 40 States
Investment highlights
OUTPARCEL TO GROCERY-ANCHORED CENTER
- Freestanding outparcel to Pine Ridge Plaza, anchored by Harris Teeter and surrounded by national retailers.
HIGH VISIBILITY RETAIL CORRIDOR
- Positioned on Reynolda Road with approximately 27,000 VPD and strong access within a dense retail node.
LOW ABSOLUTE RENT BASIS
- In-place rent of $108,900 provides an accessible price point and supports future renewal economics
EXPERIENCED OPERATOR
- Operated by Cellular Sales, Verizon’s largest authorized retailer, with a large national footprint and long operating history.
AFFLUENT INFILL TRADE AREA
- More than 56,000 residents within 3 miles with average household income of approximately $105,848.
Listing Contacts
Listed by Atlantic Capital Partners
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$108,900.00
$9,075.00/mo
Valuation Metrics
0
DSCR
6.25%
Cap Rate
6.25%
ROI
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