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Views: 79 DOM: 227 Updated: 04.22.24 Posted: 10.03.23 Status: Active

Summary

Price $7,220,942
Built/Renov 1996/2017
Tenant Havertys Furniture
Cap Rate 7.75%
Lease Type Abs NNN
Guarantor Corp Traded
Size/SF 88,130
Lease Start 08-31-1996
#Units 122
Price/SF $81.94
Expiration 08-31-2027
Tenant Type Big Box Retail
NOI $559,623
R. Term 3.3
Ownership Fee Simple
Rent/SF $6.35
Increases 6.0%/4/yrs
Pop 5Mi 162,518
Lot/AC 6.60
Options 2/5yrs/6%
AHHI 5Mi $85,698

Lease Highlights

  • Harvertys has been operating at this location since 1996
  • Tenant currently has 3+ years remaining on their primary lease with 2 (5-year) options to extend
  • Lease features 6% rental increases in each option
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Havertys Furniture is situated on North Rock Road, with a daily traffic count of 32,102 vehicles. It is located less than one mile south of the prominent retail intersection at East 21st Street, which sees a traffic count of 22,270 vehicles. Additionally, it is two miles south of State Highway 96, which experiences a high traffic count of 53,600 vehicles. The store is diagonally across from...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Haverty Furniture Company, Inc (Havertys) is a specialty retailer of residential furniture and accessories, offering a wide range of styles from traditional to contemporary. The company also...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 6,756 64,810 163,855
2023 Total Population : 6,784 64,688 162,518
2023 Employed Civilian Pop : 3,137 31,815 79,004
2023 Total Businesses : 539 3,991 7,538
2023 Average Household Income : $ 107,138 $ 95,442 $ 85,698
2023 Total Consumer Spending : $ 287 M $ 2256 M $ 4971 M
2023 Median Age : 46 36 36
2023 Total Households : 3,105 27,349 66,833
2023 Pop Age 25+: Bachelor's Degree : 1,749 12,395 26,472
2023 Average Home Value : $ 410,374 $ 288,146 $ 253,070
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
N 2nd Ave 2008 2,775 0.19 mi
N 2nd Ave 2008 7,543 0.26 mi
E 21st St N 2010 25,078 0.45 mi
E 13th St N N Rock Rd 2000 14,767 0.46 mi
East 13th Street North N Rock Rd 2012 15,282 0.46 mi
North Rock Road E 21st St N 2018 14,610 0.52 mi
North Rock Road E 21st St N 2018 12,170 0.62 mi
East 13th Street North N Linden St 2018 14,780 0.67 mi
East 13th Street North N Lawrence Ln 2018 11,670 0.74 mi
East 13th Street North N Webb Rd 2021 14,980 0.75 mi

Listing Broker

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