Harrell’s Tire & Auto
Net Lease
1835 NC-87, Cameron, NC, North Carolina
Ownership Type:
Owner/User
Landlord Responsibilities:
None
Renewal Options:
3, 5 Year Options
Building Sq. Ft.:
16,900 SF
Rent Increases:
3% annual starting in Year 6
Investment Highlights
- LONG-TERM LEASE: The Property is secured by a 15-year absolute NNN lease structure with 3, five-year options
- ZERO LANDLORD RESPONSIBILITIES: Tenant operates under an absolute NNN lease structure, ensuring true passive ownership for investors. All expenses—including taxes, insurance, maintenance, and repairs—are fully covered by the tenant, providing stable income throughout the lease term.
- HIGH-GROWTH SUBMARKET: Positioned in a rapidly growing Cameron submarket characterized by strong rent growth and limited vacancy, driving long-term real estate fundamentals.
- ATTRACTIVE RENT GROWTH: Rare 3% annual rent increases commencing in year six, offering meaningful income growth and an attractive hedge against inflation.
- STRONG DEMOGRAPHICS: The property benefits from affluent surrounding demographics with average household incomes exceeding $102,000 within a 2-mile radius, supporting strong consumer demand.
- STRATEGIC RETAIL POSITIONING: The Property is surrounded by national retailers including Zaxby’s, Dunkin’, Taco Bell, McDonald’s, and Food Lion, reinforcing the strength of the immediate trade area.
- PRIME RETAIL CORRIDOR: Situated along Highway 87 with traffic counts exceeding 40,000 vehicles per day, providing exceptional visibility and access.
- STRONG CORPORATE GUARANTY: Backed by a creditworthy corporate guarantor with stable unit-level performance, ensuring long-term operational durability.
Ownership Type:
Owner/User
Landlord Responsibilities:
None
Renewal Options:
3, 5 Year Options
Building Sq. Ft.:
16,900 SF
Rent Increases:
3% annual starting in Year 6
