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Advance Auto Parts Net Lease Investment | 6.75% Cap Rate

205 Grande Heights Dr
Cary, NC 27513
PRICE : $2,291,800
CAP RATE: 6.75%
PROPERTY TYPE: Retail
SITE SIZE: 1.05 Acres
BUILDING SIZE: 7,000 SF
YEAR BUILT: 2008

Highlights

  • Established, investment grade, corporate guaranteed NN offering
  • All-brick 1+ acre outparcel to Harris Teeter anchored, 134K SF Harrison Pointe Shopping Center
  • Busy retail trade area in Raleigh-Durham MSA with over 36K vehicles per day
  • Just under 5 years remaining on NN lease with three 5-year options
  • Population over 65K and average household income in excess of $92K within 3 miles
  • Limited related competition within 3-mile area
  • Significant growth projection in Raleigh-Durham MSA of over 54% in 25 years

Description

Bull Realty is pleased to offer this single tenant, net leased Advance Auto Parts in Cary, NC, part of the Raleigh-Durham-Chapel Hill MSA. The ± 7,000 SF brick building is situated on a ± 1.05 acre outparcel of the Harrison Pointe Shopping Center. Nearby retailers include Walmart, Rite Aid, Discount Tire, Walgreens, Zaxby’s, KFC and Arby’s. This busy commercial corridor along NE Maynard Rd and N Harrison Ave has combined traffic counts at the intersection of over 34K vehicles per day. The population within 3 miles is 65,397 with an average household income is $92,844. The area is projected to grow by 1.87% from 2017 to 2022.

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