Sanford, NC - AFC Urgent Care

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, freestanding, newly constructed, AFC Urgent Care investment property located in Sanford, North Carolina. The tenant has over 14 years remaining on its lease with 6 (5-year) options to extend, demonstrating their commitment to the site. The lease features 8% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor.

The property has excellent visibility and multiple points of access at the signalized, hard corner intersection of Dalrymple Street and S. Horner Boulevard (25,200), the primary retail thoroughfare serving the city of Sanford. The thoroughfare features national/credit tenants including Walmart Supercenter, Lowe’s, Hobby Lobby, Ross, Food Lion, Planet Fitness, Chick-fil-A, Starbucks, and an adjacent Walgreens and Circle K. The concentration of major retailers in the immediate area, and nearby on/off ramp access from U.S. Highway 421 (33,200 VPD), promotes crossover exposure and increased consumer traffic to the site. Sanford represents a dense infill trade area with 1M+ SF of retail space within 1-mile of the site and a 1.2% vacancy rate, demonstrating the potential of the local commercial sector. The city has preferable, centralized location near Raleigh and Fayetteville, two of the top retail markets in the state boasting increased population growth, rents, retail expansion, and a similar low vacancy rate. The 5-mile trade area is supported by a population of over 42,700 residents and 22,800 employees with an average household income of $74,361.