Verizon | Long Term Tenant Occupancy

1720 East Dixon Boulevard, Shelby, NC

$2,331,240

Price

6.85%

Cap Rate

10,646 sqft

Building Size

Overview
Cap Rate
6.85%
Building Size
10,646 sqft
Year Built
1993
Year Last Renovated
2013
Tenant Responsilbilities
CAM,RE Taxes, Insurance, HVAC Preventative Maintenance & Parking Lot Maintenance
Description

• Long term tenant occupancy with tenant investing approx. $580k in renovations (2013).
• Rare cell tower connecting to equipment room located in building.
• Tilt up concrete construction with new roof (2016) and 15-year warranty.
• New roof and HVACS
• 52k+ residents within a 3 mile radius
• Corporate Verizon
• 25+ year tenant occupancy
• Strong tenant performance throughout Covid 19 pandemic
• Long term tenant occupancy
• 15 year warranty on roof (10 years remaining)

Highlights
  • Freestanding Corporate Verizon wireless
  • 37,000 cars per day
  • Verizon invested approx. $580k in renovations in 2013 with no landlord concessions
  • 27 year tenant occupancy with long term commitment to site
  • Rare cell tower located on parcel with 99-year lease with equipment room being used by Tower and Verizon. Estimated cost of equipment is $500k +
  • 25+ year tenant occupancy
  • 2021 all new plumbing, septic, piping
  • 2016 new roof with transferable 15-year warranty (expires 9/6/31)
  • Rare concrete tilt up construction including loading docks and bays, excellent for future light industrial or retail if necessary
  • Newer HVAS units (one replaced in 2019 and the other six replaced in 2012)
  • On site employee training room
Documents
Title
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Location
Gallery