Listed by SRS Real Estate Partners Newport Beach
$7,301,000
Pike Nurseries (Corp Armstrong Gardens) | 14 Yrs NNN
Details
APN 2756130
Property Type Retail
Sub Type Day Care/Nursery, Storefront
Square Footage 12,268
Cap Rate 5.65%
NOI $412,500
Tenancy Single
Lease Type Absolute NNN
Lease Term 20.1
Lease Expiration 07/31/2040
Remaining Term 14.1
Rent Bumps Yes
Lease Options 2 (5-year)
Year Built 2019
Acreage 2.320
Zoning CC(CD)
Parking Spaces 66 spaces
Parking per 1,000 SqFt 5.38
Investment Type Net Lease
Tenant Credit Credit Rated, Corporate Guarantee
Lease Commencement 07/15/2020
Ground Lease No
Ownership Fee Simple (Land & Building Ownership)
I-485 Access & Visibility from 82,800 VPD
Marketing description
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, Pike Nurseries investment property located in Charlotte, North Carolina. The tenant, Pike Nurseries has 14 years remaining on their lease with 2 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for an out of state investor.
Investment highlights
- Tenant operates under an original 20-year lease (commenced July 2020, expiring July 2040), demonstrating long-term commitment to the site
- Lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period
- Tenant has two (2), 5-year renewal options, providing long-term cash flow and continued income growth
Listing Contacts
Listed by SRS Real Estate Partners Newport Beach
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$412,500.00
$34,375.00/mo
Valuation Metrics
0
DSCR
5.65%
Cap Rate
5.65%
ROI
Map
Zoning
CC(CD)/SPA CommercialCore CommercialCommercial Center Conditional Zoning Spa District
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Last updated May 15, 2026 For deeper zoning details, reports are available at Zoneomics
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