Christian Brothers NNN Lease Investment Opportunity | 6.3% Cap Rate

Concord, NCChristian Brothers Automotive (CBA) opened this Concord, NC (Charlotte MSA) location in 2017. The attractive absolute NNN, 15-year lease has 8.5 years remaining on the initial term with rare annual rent increases of 1.5% and five 10-year renewal options. Houston based CBA operates over 250 full-service auto repair facilities in 30 states and is renowned for its customer service and state of the art facilities. Located along a busy retail corridor with nearly 13,000 vehicles per day, this CBA is one block from the intersection of George W. Liles Pkwy with over 34,700 vehicles per day. The attractive ±6,154 SF all-brick structure has a large reception area, offices, five drive-in two-sided bays, and sits on ±1.23 acres. Five-mile demographics include a population of over 114,000 with an average household income of over $111,000. Nearby retailers include Harris Teeter, AutoZone, Auto Parts, CVS, Walgreen’s, Bojangles’, Firestone, Chick-fil-A, Kids ‘R’ Kids Learning Academy, and more. Cabarrus County has a large presence of national manufacturers including Corning, Red Bull, Rauch North America, General Motors, and GoldenHome International. Additionally, global pharmaceutical giant Eli Lilly recently invested $1 billion dollars in a five-building campus in Concord. This area is forecast to grow almost 2% annually through 2029, placing Concord as one of the fastest growing cities in the state. Additionally, the Charlotte MSA is one of the 10th fastest growing areas in the U.S. From an investor standpoint, this CBA offers several benefits including one of the lowest CBA entry price points, delivering annual rent increases, having an established location, and strong corporate guarantor that has never closed a location. In addition, JD Powers ranked CBA as THE top-rated facility in its category in the US for the past 4 years. This offering is priced at $2,992,555 and a 6.3% cap rate.