Frito-Lay Distribution Center
Hope Mills, NC
Key Details
| Price: | $8,182,512 |
|---|---|
| Cap Rate: | 6.25% |
| Annual Rent: | $511,407 |
| Address: | 5070 U.S. 301, a, Hope Mills, North Carolina 28348 |
| Property Type: | Industrial |
| Lease Type: | Double Net (NN) |
Property Data
| Original Lease Term: | 10 Years |
|---|---|
| Lease Commencement: | 7/15/2024 |
| Lease Expiration: | 7/14/2034 |
| Lease Term Remaining: | 9.6 Years |
| Rental Increases: | 2.00% Annually |
| Lot Size: | 11.40 Acres |
| Building Size: | 21,501 SF |
| Year Built: | 2024 |
NNN Pro is pleased to present the exclusive listing for a Frito-Lay Distribution Center located at 5070 U.S. 301, a, Hope Mills, North Carolina 28348. The site consists of roughly 21501 rentable square feet of building space on an estimated 11.4-acre parcel of land. This Frito-Lay Distribution Center is subject to a 10-year Double Net (NN) lease, which commenced 7/15/2024. The current annual rent is $511,407 and has scheduled increases of 2.00% Annually.
About the Investment
- Long-Term, 10-Year Double Net (NN) Lease
- Construction Completed in July 2024
- Approximately 9.9 Years Remaining
- Ten Percent (10%) Rental Increases Occurring Every Five (5) Years
- Two Percent (2.00%) Rental Increases Occurring Annually
- Two (2), Five (5)-Year Tenant Renewal Options, Bringing the Potential Lease Term to 20+ Years
Key Details
| Price: | $8,182,512 |
|---|---|
| Cap Rate: | 6.25% |
| Annual Rent: | $511,407 |
| Address: | 5070 U.S. 301, a, Hope Mills, North Carolina 28348 |
| Property Type: | Industrial |
| Lease Type: | Double Net (NN) |
Property Data
| Original Lease Term: | 10 Years |
|---|---|
| Lease Commencement: | 7/15/2024 |
| Lease Expiration: | 7/14/2034 |
| Lease Term Remaining: | 9.6 Years |
| Rental Increases: | 2.00% Annually |
| Lot Size: | 11.40 Acres |
| Building Size: | 21,501 SF |
| Year Built: | 2024 |
Talk to the Pros
Glen Kunofsky
gkunofsky@nnnpro.com
License: NY: 49KU1129178
Judson Kauffman
jkauffman@nnnpro.com
License: NY: 10401296108
Hannan Ben Yosef
hbenyosef@nnnpro.com
License: NY: 10401358655
Matt Sorace
msorace@nnnpro.com
License: NY: 10401367850
Broker of Record
Brian Brockman
Bang Realty-North Carolina, Inc
License: 298998
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This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.