Strickland Brothers

5415 MacCorkle Avenue Southeast, Charleston, WV 25304

$2,011,000

Cap Rate 7.00%

Views: 128 DOM: 294 Updated: 07.04.24 Posted: 02.01.24 Status: Active

Summary

Price $2,011,000	Built/Renov 2024	Tenant Strickland Brothers
Cap Rate 7.00%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 1,300	Lease Start 04-01-2024	#Units 173
Price/SF $1,546.92	Expiration 03-31-2039	Tenant Type Automotive
NOI $140,800	R. Term 14.4	Ownership Fee Simple
Rent/SF $108.31	Increases 10.0%/5/yrs	Pop 5Mi 36,452
Lot/AC 0.35	Options 4/5yrs/10%	AHHI 5Mi $98,271

Lease Highlights

Brand-new 2024 construction
Strickland Brothers will be executing a brand-new 15-year lease with 4 (5-year) options to extend
The lease features 10% rental increases every 5 years throughout the initial term and each option period
Absolute NNN | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

Strickland Brothers is strategically located on MacCorkle Ave, with direct access and excellent visibility, offering access to 19,900 vehicles passing by daily. The property is situated in an outstanding retail corridor, within walking distance of The Shops at Kanawha, a Kroger and Gabe’s-anchored shopping center, and a Lowe’s-anchored shopping center. Additionally, there is an I-64...

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Key Features

New construction
Near major nationals
Strategically located
Freeway close
Top 100 MSA
Affluent suburb location
Brand new lease
Long 15+ yr lease
Accelerated depreciation
Corporate Guarantee

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Links

Strickland Brothers Wikipedia Charleston, West Virginia Zip Code 25304 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Strickland Brothers
Guarantor:Corporate
Company:Princeton Equity Group
# Units:173
Stock:Private

About Tenant

Smokey Bones, 795 East Golf Road, IL | The NNN Marketplace Strickland Brothers is a fast-growing one-stop shop for oil changes and vehicle maintenance services. The company is well-known for its...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	4,385	16,445	35,503
2023 Total Population :	4,525	16,988	36,465
2023 Employed Civilian Pop :	2,361	8,040	16,654
2023 Total Businesses :	261	902	2,932
2023 Average Household Income :	$ 111,579	$ 104,473	$ 98,286
2023 Total Consumer Spending :	$ 216 M	$ 700 M	$ 1459 M
2023 Median Age :	50	46	46
2023 Total Households :	2,246	7,693	17,019
2023 Pop Age 25+: Bachelor's Degree :	945	2,803	6,296
2023 Average Home Value :	$ 239,651	$ 243,181	$ 258,720

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Maccorkle Avenue Southeast	57th St SE	2021	20,017	0.13 mi
WV 61	56th St SE	2021	15,582	0.15 mi
50th Street Southeast	Washington Ave SE	2021	686	0.42 mi
	Hwy 60	2021	8,007	0.43 mi
I 64;I 77;US 60	Riverview Cir	2021	49,328	0.43 mi
I 64;I 77;US 60	Riverview Cir	2021	50,078	0.44 mi
	I- 64	2021	7,850	0.49 mi
Lower Donnally Road	Carlton Dr	2021	654	0.49 mi
	Snow Hill Dr	2021	2,148	0.55 mi
US 60	Kanawha Ave	2021	14,633	0.57 mi

Listing Broker

Aron Cline

Berkeley Capital Advisors

Contact

177 Listings
27467 Views
21 Sold

Calvin Short

Berkeley Capital Advisors

Contact

187 Listings
28475 Views
23 Sold

Aron Cline

Specializing in Single Tenant Net Lease and Shopping Centers, Aron Cline leads Berkeley Capital Advisors’ West Coast Office. Since 2011, Aron has been actively engaged in the commercial real estate space. Over the last decade, he and his team have been regarded as one of the most active brokerage teams in the country - having brokered over 1,300 transactions totaling $3.5 billion. His dedication and success have earned him the trust of some of the country’s top institutions, developers, high ne

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Calvin Short

Calvin Short joined Berkeley Capital Advisors in 2021 and leads the West Coast capital markets group. Since joining Berkeley, Calvin has been a part of closing 1,400 separate transactions with $4 billion in sales volume. Prior to Berkeley, Calvin served as Senior Vice President at Matthews REIS where he was consistently ranked within Matthews’ top five producing agents. In 2012, he graduated from The University of San Diego with a B.A. in Real Estate Finance. Calvin has spent the past 10 years

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