Meineke Car Care Center
Kill Devil Hills, NC
Key Details
| Price: | $1,440,000 |
|---|---|
| Cap Rate: | 6.25% |
| Annual Rent: | $90,000 |
| Address: | 1800 South Croatan Highway, Kill Devil Hills, North Carolina 27948 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 20 Years |
|---|---|
| Lease Expiration: | 20 Years from Close of Escrow |
| Lease Term Remaining: | 20 Years |
| Rental Increases: | 2.00% Annually |
| Lot Size: | 0.55 Acres |
| Building Size: | 4,800 SF |
| Year Built: | 1996 |
NNN Pro is pleased to present the exclusive listing for a Meineke Car Care Center located at 1800 South Croatan Highway, Kill Devil Hills, North Carolina 27948. The site consists of roughly 4800 rentable square feet of building space on an estimated 0.55-acre parcel of land. This Meineke Car Care Center is subject to a 20-year Triple Net (NNN) lease, which will commence upon close of escrow. The annual rent will be $90,000 and has scheduled increases of 2.00% Annually.
About the Investment
- Brand New 20-Year Absolute Triple Net Sale Leaseback Upon Close of Escrow | This Meineke is subject to a 20-year sale leaseback upon close of escrow with zero landlord responsibilities making this an ideal, hands off investment.
- Ideal Consumer Base for Vehicle Repair Services that Meineke Offers | Over 15,230 people with an average household income of $87,000 live within 5 miles of the property, providing an ideal customer base for Meineke’s vehicle maintenance services. With the average vehicle age in the U.S. rising to 12.6 years, more owners are turning to local repair shops rather than dealerships. These trends support Meineke’s long-term success both locally and nationally.
- Only Meineke Located Within 85 Miles | Being the sole Meineke within an 85-mile radius offers a distinct advantage, positioning this location as the primary automotive service destination for residents in the immediate and surrounding areas. Furthermore, the closest Firestone, NTB, AAA Auto Repair, Jiffy Lube, Pep Boys, or Christian Brothers is over 50 miles away from this Meineke location!
Key Details
| Price: | $1,440,000 |
|---|---|
| Cap Rate: | 6.25% |
| Annual Rent: | $90,000 |
| Address: | 1800 South Croatan Highway, Kill Devil Hills, North Carolina 27948 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 20 Years |
|---|---|
| Lease Expiration: | 20 Years from Close of Escrow |
| Lease Term Remaining: | 20 Years |
| Rental Increases: | 2.00% Annually |
| Lot Size: | 0.55 Acres |
| Building Size: | 4,800 SF |
| Year Built: | 1996 |
Talk to the Pros
Anthony D'Ambrosia
adambrosia@nnnpro.com
License: NY: 10401294012
Josh Kanter
jkanter@nnnpro.com
License: NY: 10401294056
Glen Kunofsky
gkunofsky@nnnpro.com
License: NY: 49KU1129178
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.