Apex, NC - Just Tires
$2,780,000
1210 Beaver Creek Commons Drive, Apex, NC 27502
6.47
Cap Rate
180,000
NOI
Details:
Description:
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NN leased, corporate guaranteed Just Tires investment property located in Apex, NC (Raleigh MSA). The corporate tenant, Goodyear Tire & Rubber Company, recently signed a brand new 10-year lease extension in Feb. 2018, providing 8 years of firm lease term remaining. The extension features 4 additional (5-year) options to extend, demonstrating their commitment to the site. The lease is NN with landlord responsibilities limited to roof and structure, making it an ideal, low-management investment opportunity for a passive investor. The building also has a 20 year roof warranty with over 6 years of term. This site is classified as an essential business, and is currently open and operating during the Covid-19 pandemic.
Just Tires is located along Beaver Creek Commons Drive near its intersection with W. Williams St., a major thoroughfare traveling throughout Apex, averaging 29,700 vehicles passing by daily. The site is positioned just a quarter-mile from the on/off ramps to U.S. Highway 64, another primary commuter roadway serving the entire Raleigh MSA with an additional 32,300 VPD. The asset is positioned as an outparcel to Beaver Creek Commons, a Target and Lowe’s Home Improvement anchored shopping center with other national/credit tenants including Chick-fil-A, Suntrust Bank, IHOP, Chili’s, Wells Fargo, Panda Express, and more, significantly promoting crossover store exposure to the subject property. The shopping hub is positioned within the heart of a bustling retail corridor with other nearby tenants including The Home Depot, Harris Teeter Grocery, LifeTime Athletic, PetSmart, and more, further increasing consumer draw to the immediate trade area. The strong surrounding national/credit tenant presence, combined with the convenient access to commuter thoroughfares, put this property in the position to succeed for years and quite possibly decades to come. The city of Apex is known as an affluent bedroom community of the Raleigh MSA. Specifically, the subject 5-mile trade area is supported by more than 130,000 residents boasting an impressive average household income approaching $145,000.
Location
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