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7723 University City Blvd, Charlotte, NC, 28213

Strickland Brothers

$1,107,692

Key Information

Cap Rate
6.5%
$ per SF
$276
Tot. SF
4,000
Lot Size
1.1 Acres
Year Built
1996 / 2026 (R)
Term Remaining
± 10 Years
Type
Retail
Occupancy
100%
NOI
$72,000

Highlights

• Long-Term Lease — Strickland Brothers operates under a 10-year lease, providing investors with long-term income stability and limited near-term rollover risk.
• Triple Net (NNN) Lease — NNN lease structure minimizes landlord responsibilities and provides investors with a passive, income-producing asset.
• Attractive Rental Increases — 10% rent increases every five years provide consistent income growth.
• Multiple Renewal Options — Four, 5-year renewal options provide the tenant with the ability to extend occupancy for an additional 20 years.
• Strong Charlotte MSA Location — Strategically located along University City Boulevard in Charlotte, NC, benefiting from proximity to established residential communities, and seeing ±30,000 VPD.
• Essential Service-Based Tenant — Strickland Brothers operates in the automotive maintenance industry, providing routine vehicle services that support recurring consumer demand.

Photos

Location

Agents

Broker of Record

Gerard Hamas

License # C42113, 362768 (NC)
Matthews of North Carolina, LLC
307 W. Tremont Ave., Ste 200, Charlotte, NC 28203