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BrickTree Brewing
Retail | 5.49% CAP | 12,000 SF
Listing Contacts
Active
Asking Price: $2,795,000
Address
414 E Water St, Lincolnton, NC 28092
Show on MapDate Added
Oct 10, 2022
Days on Market
926 days
Time Since Last Update
35 days
Details
Property TypeRetail
SubtypeBar
Investment TypeStabilized
Investment Sub TypeNNN
Lease TypeNNN
TenancySingle
Lease Term17 years
Lease Commencement08/01/2020
Lease Expiration07/31/2037
Remaining Term12.3 years
Square Footage12,000
Net Rentable (sq ft)12,000
Price/Sq Ft$232.92
Cap Rate5.49%
Occupancy100%
Occupancy Date08/01/2020
NOI$153,360
Units1
Year Built1903
Year Renovated2020
Buildings1
Stories2
ZoningC-B
Lot Size (acres)1.05
Rent Bumps5% per renewal period
Broker Co-OpYes
APN00488
Lease Options2 5 yr options
OwnershipPC Active LLC
Sale ConditionFor sale by owner
INTELLIGENCEMarketing Description
Property is a transformed 1903 textile mill that was turned into a beautiful craft brewery with an entertainment venue in Lincolnton NC. The brewery is BrickTree and they have been in business for more than two years now. The taproom, beer garden and venue space are major attractions on the Water Street entertainment district in Downtown Lincolnton.
The building itself is on the National Register of Historical Places maintained by the Department of the Interior. The City of Lincolnton welcomed the brewery use by installing new water/sewer infrastructure to make sure the building would never run out of necessary utilities. The parcel is just over an acre in the heart of downtown Lincolnton. There is outside concert space, generous parking both onsite and close by, and the possibility for future expansion.
The attached brochure has more information on 414 East Water Street along with pictures of the interior and exterior. Please give me a call at 704-900-9632 for more information.
Please do not disturb BrickTree Brewing. Tours can be arranged for nonoperating hours.
The Brewery operations are not including in this offering.
Investment Highlights
15 year NNN initial lease term with two 5 year extensions. Lease commencement on August 1, 2020.
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$153,360.00
$12,780.00/mo
Valuation Metrics
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0
DSCR
5.49%
Cap Rate
5.49%
ROI
Property History
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Listing Contacts
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