Main Street Auto
Fletcher, NC
Key Details
| Price: | $2,841,429 |
|---|---|
| Cap Rate: | 7.00% |
| Annual Rent: | $198,900 |
| Address: | 38 Heritage Park Drive, Fletcher, North Carolina 28732 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 20 Years |
|---|---|
| Lease Commencement: | 12/17/2024 |
| Lease Expiration: | 12/31/2044 |
| Lease Term Remaining: | 19.8 Years |
| Rental Increases: | 2.00% Annually Starting Year 6 |
| Lot Size: | 0.32 Acres |
| Building Size: | 4,776 SF |
| Year Built: | 2000 |
| Year Renovated: | 2010 |
NNN Pro is pleased to present the exclusive listing for a Main Street Auto located at 38 Heritage Park Drive, Fletcher, North Carolina 28732. The site consists of roughly 4776 rentable square feet of building space on an estimated 0.32-acre parcel of land. This Main Street Auto is subject to a 20-year Triple Net (NNN) lease, which commenced 12/17/2024. The current annual rent is $198,900 and has scheduled increases of 2.00% Annually Starting Year 6.
About the Investment
- Brand New, Long-Term, 20-Year Absolute Triple Net (NNN) Lease | This site is subject to a brand-new 20-year absolute triple-net lease which commenced on 12/17/2024. The lease has no landlord responsibilities.
- Attractive Rental Increases | The lease features 2.00% rental increases annually starting year 6.
- Corporate Guarantee | The lease is subject to a strong corporate guarantee from Main Street Auto. Main Street Auto is a rapidly growing operator of automotive repair shops in the southeast. They currently operate ~100 locations and have plans for continued growth.
Key Details
| Price: | $2,841,429 |
|---|---|
| Cap Rate: | 7.00% |
| Annual Rent: | $198,900 |
| Address: | 38 Heritage Park Drive, Fletcher, North Carolina 28732 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 20 Years |
|---|---|
| Lease Commencement: | 12/17/2024 |
| Lease Expiration: | 12/31/2044 |
| Lease Term Remaining: | 19.8 Years |
| Rental Increases: | 2.00% Annually Starting Year 6 |
| Lot Size: | 0.32 Acres |
| Building Size: | 4,776 SF |
| Year Built: | 2000 |
| Year Renovated: | 2010 |
Talk to the Pros
Glen Kunofsky
gkunofsky@nnnpro.com
License: NY: 49KU1129178
Edward Otocka
eotocka@nnnpro.com
License: NY: 10401298466
Francis Purritano
fpurritano@nnnpro.com
License: NY: 10401333619
Walker Stevens
wstevens@nnnpro.com
License: NY: 10401381479
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.