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Frito-Lay Distribution Center 23114 Sylva Rd

5,967 SF Industrial Building Franklin, NC 28734 £3,519,521 (£590/SF) 6.25% Net Initial Yield

Investment Highlights

  • Long-Term, 10-Year Double Net (NN) Lease
  • Approximately 9.9 Years Remaining
  • Two (2), Five (5)-Year Tenant Renewal Options, Bringing the Potential Lease Term to 20+ Years
  • Construction Completed in July 2024
  • Two Percent (2.00%) Rental Increases Occurring Annually

Executive Summary

NNN Pro Group is pleased to present the exclusive listing for a Frito-Lay last mile distribution center located along Sylva Road in Franklin, NC. The site consists of roughly 5,967 rentable square feet of building space on an estimated 8.95-acre parcel of land. This Frito-Lay last mile distribution facility is subject to a 10-year double-net (NN) lease, which commenced July 15th, 2024. The current annual rent is $278,796 and is scheduled to increase by 2.00% annually throughout the base term and in each of the 2, 5-year renewal options.

Property Facts

Price £3,519,521 Lot Size 8.95 AC
Price Per SF £590 Rentable Building Area 5,967 SF
Sale Type Investment Number of Floors 1
Net Initial Yield 6.25% Year Built 2024
Property Type Industrial Tenancy Single
Property Subtype Distribution No. Dock-High Doors/Loading 5
Building Class C Opportunity Zone Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Price £3,519,521
Price Per SF £590
Sale Type Investment
Net Initial Yield 6.25%
Property Type Industrial
Property Subtype Distribution
Building Class C
Lot Size 8.95 AC
Rentable Building Area 5,967 SF
Number of Floors 1
Year Built 2024
Tenancy Single
No. Dock-High Doors/Loading 5
Opportunity Zone Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
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PROPERTY TAXES

Parcel Number 6595730097 Improvements Assessment £3,514,671
Land Assessment £639,090 Total Assessment £4,153,761

PROPERTY TAXES

Parcel Number
6595730097
Land Assessment
£639,090
Improvements Assessment
£3,514,671
Total Assessment
£4,153,761
(332) 345-4222

  • Listing ID: 32893315

  • Date on Market: 20/08/2024

  • Last Updated:

  • Address: 23114 Sylva Rd, Franklin, NC 28734

The Industrial Property at 23114 Sylva Rd, Franklin, NC 28734 is currently available For Sale. Contact NNN Pro Group for more information.

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© 2024 CoStar Group

Frito-Lay Distribution Center | 23114 Sylva Rd
(332) 345-4222 x

Frito-Lay Distribution Center | 23114 Sylva Rd

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Glen Kunofsky

(332) 345-4222

(332) 345-4222

Judson Kauffman

(332) 345-4202

(332) 345-4202

Hannan Ben Yosef

(332) 345-4384

(332) 345-4384

Matthew Sorace

(332) 345-7813

(332) 345-7813

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