Pasta Amore | Below Market Rent Tenant

$450,000

240 West Broad Street, Statesville, NC 28677

For Sale

Retail Restaurant

Pending

Last Updated: 01/04/2021

Details:

Cap Rate: 8%

NOI: $36,000

Building Size: 4,745 sqft

Lot Area: 0.13 acres

Lease Type: Triple Net

Year Built: 1956

Price Per Sqft: $94.84

Roof & Structure: Landlord's Responsibility

HVAC: Tenant Responsible For First $1,000

Repairs & Maintenance: Tenant’s Responsibility

Offered by

John Dudash

Sands Investment Group

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Amar Goli

Managing Director

Sands Investment Group

#01883944

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Highlights:

Priced Below Replacement Costs
Below Market Rent
Tenant Has Remained Open and is Currently Still Paying Rent During COVID-19
Property is a Full Brick Construction
Situated On a Hard Corner on One of the Busiest Streets in Statesville
High Visibility With Dense Foot Traffic
Over 86,100 Residents Within a 10-Mile Radius
6.71% Projected Population Growth Over the Next 5 Years
The Average Household Income is $61,244 Within a 5-Mile Radius
The Property is Located 0.6-Miles to the Mitchell Community College
Nearby Tenants Include: Hardee’s, CVS Pharmacy, AutoZone, Wells Fargo, Bank of America, O’Reilly Auto Parts, Marco’s Pizza and More

Description:

Sands Investment Group is Pleased to Exclusively Offer For Sale the 4,745 SF Pasta Amore Located 240 West Broad Street in Statesville, NC. This Opportunity Includes a Below Market Rent Tenant That Has Remained Open and is Currently Still Paying Rent During COVID-19, Providing For a Unique Investment.

In Cooperation With Sands Investment Group North Carolina, LLC – Lic. #29362
BoR: Amar Goli – Lic. # 310575