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1835 Nc 24-87
Cameron, NC 28326
Harrell’s Tire & Auto · Retail Property For Sale
Investment Highlights
- The property is secured by a 10-year lease with three additional five-year extension options.
- Situated along a primary retail corridor with traffic volumes exceeding 40,000 vehicles daily.
- The surrounding market demonstrates strong demographics, with average household incomes over $102,000 within a two-mile radius.
- Scheduled 3% annual rent increases commence in year six, offering built-in income growth.
- Surrounded by national retailers, reinforcing the area’s retail strength and sustainable consumer draw.
- Supported by a corporate guaranty, ensuring financial security and operational performance.
Executive Summary
This single-tenant, net-leased property offers investors a stable and predictable cash flow secured by a 10-year lease with Harrell’s Tire & Auto. The lease includes three five-year extension options, reflecting tenant commitment and supporting long-term income continuity. Structured rent growth begins in year six, featuring 3% annual increases that enhance yield and mitigate inflation risk over time.
Located along the high-traffic NC-87 retail corridor, the property benefits from excellent visibility with traffic counts surpassing 40,000 vehicles per day. The immediate trade area is anchored by prominent national brands such as Zaxby’s, Dunkin’, Taco Bell, McDonald’s, and Food Lion, reinforcing the strength and stability of its retail environment. Affluent surrounding demographics with average household incomes of more than $102,000 within two miles provide a strong consumer base and support ongoing demand.
Backed by a creditworthy corporate guarantor, the asset offers both operational reliability and long-term stability, making it a compelling opportunity for investors seeking a passive, income-generating property in a high-growth region.
Located along the high-traffic NC-87 retail corridor, the property benefits from excellent visibility with traffic counts surpassing 40,000 vehicles per day. The immediate trade area is anchored by prominent national brands such as Zaxby’s, Dunkin’, Taco Bell, McDonald’s, and Food Lion, reinforcing the strength and stability of its retail environment. Affluent surrounding demographics with average household incomes of more than $102,000 within two miles provide a strong consumer base and support ongoing demand.
Backed by a creditworthy corporate guarantor, the asset offers both operational reliability and long-term stability, making it a compelling opportunity for investors seeking a passive, income-generating property in a high-growth region.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Auto Repair
Building Size
16,900 SF
Building Class
B
Year Built
1997
Price
$5,479,895 CAD
Price Per SF
$324.25 CAD
Cap Rate
6.85%
NOI
$375,373 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.07
Lot Size
5.45 AC
Zoning
C - Commercial
Parking
62 Spaces (3.67 Spaces per 1,000 SF Leased)
Frontage
297’ on North Carolina 87
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