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33235695
33235692

2221 Vanstory Street, Greensboro, NC 27403 For Sale

CB
NC 287166
Berkeley Capital Advisors Charlotte
RF
NC 280948
Berkeley Capital Advisors Charlotte
Listed by Berkeley Capital Advisors Charlotte
$3,133,000
47 days on market
Updated 6 days ago

Guitar Center

Details
Property Type Retail
Sub Type Storefront
Square Footage 10,000
Cap Rate 7.50%
NOI $235,000
Occupancy 100%
Tenancy Single
Lease Type NN
Lease Term 10
Lease Expiration 09/30/2032
Remaining Term 6.5
Rent Bumps Yes
Lease Options Two, 5-Year
Price per SqFt $313
Broker Co-Op True
Year Built 2006
Acreage 1.300
Zoning Commercial
Parking Spaces 74 spaces
Parking per 1,000 SqFt 7.40
Investment Type Net Lease
Lease Commencement 09/28/2006
Ground Lease No

Long Operating History | Top Performing Location | Corporate Lease

Investment highlights

• Long operating history | Leased since 2006 with the tenant having exercised two renewal options

• This location ranks in the 77th percentile in North Carolina via Placer.ai amongst other Guitar Centers

• Corporate lease | Guitar Center Stores, Inc. | 305+ locations across 48 U.S. states

• Great access from I-40 | 117,00 VPD

• Adjacent to Four Seasons Town Centre Shopping Mall & Koury Convention Center | 900K SF combined of retail and hospitality space

• Located inside of dense retail corridor | 4.9M SF within a 1-mile radius

• Large parcel | 1.30 acres

• Steady population growth within a 3-mile radius | 11.25% from 2010-2025

• Attractive population density within a 5-mile radius | 185,249 residents

• Large industrial presence nearby | 3.5M SF of space within a 2-mile radius

• 10 minutes from both Kindred Hospital Greensboro & Cone Health Wesley Long Hospital | 299 beds

• 5 minutes from the University of North Carolina Greensboro | 18,000+ students

• Less than 10 minutes from Smith High School & James B. Dudley | 2,862 students

• 15 minutes from Piedmont Triad International Airport | 200+ flights per day

• Nearby destination retailers | Home Depot, Food Lion, Walmart Neighborhood Market, ALDI, Olive Garden, Chilli’s Carrabba’s, Bonefish Grill, Chick-fil-A, McDonald’s, Starbucks, Chipotle, Whataburger, Wendy’s, Jimmy John’s, Arby’s, Zaxby’s, Burger King, Popeyes, Bojangles, O’Reilly Auto Parts, AutoZone, and more

Listing Contacts

CB
NC 287166
Berkeley Capital Advisors Charlotte
RF
NC 280948
Berkeley Capital Advisors Charlotte
Listed by Berkeley Capital Advisors Charlotte

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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$235,000.00
$19,583.33/mo

Valuation Metrics

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DSCR
7.5%
Cap Rate
7.5%
ROI

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