Concord, NC - QuikTrip

8820 Christenbury Parkway, Concord, NC

$7,480,000

Price

5%

Cap Rate

$374,010

NOI

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Overview
Cap Rate
5%
NOI
$374,010
Description

• 14+ years of remaining term on the original 20-year base term
• The lease is corporately guaranteed by QuikTrip Corporation, a reputable private company with more than 1,000 locations nationwide
• The lease features a 5% rental increase every 5-years, including at the beginning of each option period to extend the lease
• No landlord responsibilities
• Ideal, management-free investment for an out-of-state, passive investor
• The landlord will benefit from fee simple ownership (land & building)
• Tenant pays for CAM, taxes, insurance and maintains all aspects of the premises

• QuikTrip is positioned in an extremely dense retail corridor, surrounded by numerous national credit tenants that constantly drive consumer activity
• The subject property located across from Concord Mills Shopping Center, a Super Regional Mall that spans over 1,362,000 square feet and anchors by four major retailers; Bass Pro Shops Outdoor World, Nike Factory Store, T.J. Maxx and Burlington
• The property is positioned along Interstate 85 (160,000 VPD)
• The asset has excellent visibility and benefits from multiple points of access
• The asset is located at the signalized, hard corner intersection of Derita Rd & Christenbury Pkwy with a combined 33,000 vehicles passing by daily
• Forbes reported that Charlotte is among the ten fastest growing metro areas
• Concord, North Carolina has experienced a 5% annual growth rate since 2010
• Nearly 151,000 residents and 59,000 employees support the trade area
• The AHHI exceeds $125,490 within 3-mile radius

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Listing ID: a288X0000075c5dQAA
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