Napa Auto Parts | Pool Time

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Price:

CAP Rate:

NOI:

Units

Rentable SF:

Lot Size:

$852,000

7.00%

59,622

2

7,700

0.85 acres

Attractive Price Point: Priced well below replacement cost at only $111 PSF

Attractive Rents and Lease Structures: Average base rent of $7.75 PSF NNN, one of the most competitive retail lease rates in the Submarket, leaving a buyer with strong potential upside

Excellent Retail Location: Neighboring retailers include such power tenants as Target, Walmart, Lowes, Aldi, Chick-Fil-A, Starbucks, and many others

Neighboring 2024 Target Development: The property is located only 0.25 miles from the new 40 acre, 147K SF Target anchored high end development, and in close proximity to multiple new single and multifamily developments.

Rapidly Growing Submarket: Boiling Springs is an affluent submarket of Spartanburg experiencing 25% growth between 2010 – 2023 due to its close proximity to Lake Bowen, Downtown Spartanburg, and I-85.

Booming Greater Market: The “Upstate” of South Carolina is one of America’s hottest emerging destinations and fastest growing MSA’s. Centered along the intersection of two major interstates (I-26 & I-85), the area has become host to more than 110 international firms, including BMW, Michelin, GE, Lockheed Martin Aircraft, and many more. Greenville’s revitalized downtown is ranked among “America’s Ten Best” and Spartanburg is the home of more per capita international investment than anywhere else in the country.

High Demand Growth Market: South Carolina is a popular market for real estate investors looking to profit from the State’s rapid appreciation rates and strong economy due to the low cost of living, business friendly environment, right-to-work policies, abundant workforce, and overall high quality of life.

For more information:

Robert Schmidt, CCIM
Director & Shareholder
(864) 678-5995
Peter Couchell, CCIM
Managing Director & Shareholder
(864) 678-5923

Property Summary

Property Type:

Retail

Property Subtype:

Auto Shop, Storefront

Tenancy:

Multi

Ownership:

Fee Simple

Lot Size:

0.85 Acres

Buildings:

1

Stories:

1

Investment Summary

Price:

852,000

CAP Rate:

7.00%

NOI:

$59,622

Price per SF:

$110.65

Lease Type:

NNN

Remaining Term:

±3.25

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Confidentiality Agreement Form


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Confidentiality Agreement
This Confidentiality Agreement will confirm the mutual understandings of the Undersigned and Owner of Record in connection with NAI Earle Furman, LLC, dba Furman Capital Advisors, LLC and its client (hereinafter referred to as "Protected Parties") providing proprietary information on the requested property (hereinafter called the “Property”) to the Undersigned:

“Information” means all data, reports, records, materials, lease expirations, lease rates or other lease information obtained from Furman Capital Advisors, LLC which is not in the public domain. Information is not meant to include information which: a) at the time of the disclosure is in the public domain; b) after disclosure becomes part of the public domain through no act or omission by the undersigned; c) as shown by written records was prior to disclosure in the possession of the undersigned; d) is rightfully received by the undersigned from third parties who were entitled to receive such information; or e) is obligated to be disclosed pursuant to applicable law, regulation or legal process.

The information is being furnished solely in connection with the consideration of a potential transaction involving the undersigned and shall be treated as “secret” and “confidential” and no portion of it shall be disclosed to others, except to those employees, agents, clients, and customers of the undersigned whose knowledge of the Information is required for use to evaluate that certain real estate as a potential acquisition and who shall assume the same obligations as the undersigned under this Agreement.

It is understood that the Protected Parties are the beneficiaries whose rights are being protected and may enforce the terms of this Confidentiality Agreement as if they were a party to the Agreement.

All information furnished shall be promptly returned or destroyed should there be no interest in that certain real estate acquisition, or otherwise disposed of as directed by the Protected Parties.

It is understood that the Protected Parties makes no representations or warranty as to the completeness or accuracy as to any information.

It is understood that by furnishing this information that the Protected Parties are not agreeing to enter into a transaction regarding the property.

By electronically signing, you represent and warrant to the other parties that (a) You have read, understand and consent to the agreement (“Agreement), (b) all information that you provide is complete and accurate, and (c) you own or have all rights and authority necessary to enter into and perform under the Agreement.

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