Andy's Frozen Custard Ground Lease | 1115 Hatches Pond Ln
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Andy's Frozen Custard Ground Lease 1115 Hatches Pond Ln
1,874 SF 4-Star Retail Building Morrisville, NC 27560 £1,837,038 (£980/SF) 6% Net Initial Yield
Investment Highlights
- Absolute Net Ground Lease
- Guaranty from Ozark Custard, LLC | 10 units
- Outparcel to Wegmans | 103,000 SF of retail space
- Desirable lease term | 10.5+ years remaining
- Great visibility from Davis Dr | 25,500 VPD
- Located inside of dense retail corridor | 1.3M SF within a 2-mile radius
Executive Summary
Ransome Foose and Carl Brendes of Berkeley Capital Advisors are pleased to present for sale Andy's Frozen Custard Ground Lease in Morrisville, NC. We welcome your review of this attractive investment.
Property Facts
Sale Type
Investment NNN
Sale Condition
Ground Lease (Leased Fee)
Property Type
Retail
Property Subtype
Building Size
1,874 SF
Building Class
A
LoopNet Rating
4 Star
Year Built
2020
Price
£1,837,038
Price Per SF
£980
Net Initial Yield
6%
NOI
£110,222
Tenancy
Single
Number of Floors
1
Building FAR
0.06
Lot Size
0.72 AC
Zoning
GCP
Parking
33 Spaces (17.61 Spaces per 1,000 SF Leased)
Frontage
137 ft on Hatches Pond Lane
Nearby Major Retailers
PROPERTY TAXES
Parcel Number | 0745.01-45-6662-000 | Improvements Assessment | £534,673 |
Land Assessment | £1,307,147 | Total Assessment | £1,841,820 |
PROPERTY TAXES
Parcel Number
0745.01-45-6662-000
Land Assessment
£1,307,147
Improvements Assessment
£534,673
Total Assessment
£1,841,820
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Andy's Frozen Custard Ground Lease | 1115 Hatches Pond Ln
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