Miscellaneous

Lowe's Home Improvement

1300-A E Broad Ave, Rockingham, NC 28379

Listing Price: $7,728,000

Cap Rate
5.50%
Tenant Name
Lowe's
Years Remaining On Lease
10.9
Guarantor
Corporate Guarantee
Rentable SF
129,529
Lease Type
NNN Ground Lease
Rent Per Square Feet
$3.28

Investment Overview

INVESTMENT GRADE ESSENTIAL TENANT • Lowe’s is a publicly traded (NYSE: LOW) Fortune 500 company with an S&P rating of BBB+. • Lowe’s is the nations second-largest hardware chain, with over 2,200 stores and over $72 billion in annual revenue. • Lowe’s has been in business for 99 years and is ranked 44th on the Fortune 500. • Lowe’s is an essential tenant and its sales are up 30% from last year during COVID. NEWLY EXTENDED 10-YEAR CORPORATE NNN GROUND LEASE • Lowe’s has operated at this location since 2000 (20-years) and recently extended the lease 10 more years demonstrating their commitment to the location. • There are currently over 10 years remaining on the lease with eight, 5-year option periods each with 5% rent increases. • Strong Investment grade corporate guarantee with national tenant with over 2,200 locations. • Lease is NNN and tenant is responsible for Taxes, Insurance, CAM, Roof & Structure. ATTRACTIVE PRIMARY RETAIL CORRIDOR LOCATION • This Lowe’s is well located on E Broad Ave (19,500 VPD) which is the primary retail corridor in Rockingham. • Surrounded by 2.5 M SF of retail within a 1 mile radius including Walmart, Tractor Supply, Food Lion, Walgreens, and more. • Located less than 1 mile from FirstHealth Moore Regional Hospital, a 610 Bed hospital with 3,700 employees. • Positioned 2 Miles from Richmond County Airport that sees an average of 28 aircraft operations per day • The 5-Mile Population of the location is 31,879. ROCKINGHAM, NC • Rockingham is located approximately 70 miles East of Charlotte and is the county seat of Richmond County. • Home to Rockingham Speedway and Entertainment Complex, which has a capacity of over 34,500 and holds multiple events per year. This track has also been used to film multiple notable movies. • Mackall Army Airfield, a primary training ground for the U.S. Army Special Forces, is located in Rockingham, NC. 270,811 military personnel are assigned to Mackall Army Airfield and Fort Bragg. • Downtown Rockingham is currently being revitalized as part of a ten-year plan named “Shaping Our Future: 2023”

Investment Highlights

  • Investment Grade Essential Tenant
  • Newly Extended 10-Year NNN Ground Lease
  • 20 Year History At The Location
  • Surrounded By 2.5M SF Of Retail
  • Rockingham Is 70 Miles East of Charlotte

Exclusively Listed By

  • Don McMinn

    Senior Managing Director Investments

    Email Don

    License(s): GA: 292036

    Atlanta

Broker of Record

  • Donald Gilchrist

    Senior Associate

    License(s): NC: 241055

    North Carolina

Listing Price: $7,728,000

Cap Rate
5.50%
Tenant Name
Lowe's
Years Remaining On Lease
10.9
Guarantor
Corporate Guarantee
Rentable SF
129,529
Lease Type
NNN Ground Lease
Rent Per Square Feet
$3.28

Investment Highlights

  • Investment Grade Essential Tenant
  • Newly Extended 10-Year NNN Ground Lease
  • 20 Year History At The Location
  • Surrounded By 2.5M SF Of Retail
  • Rockingham Is 70 Miles East of Charlotte

Investment Overview

INVESTMENT GRADE ESSENTIAL TENANT • Lowe’s is a publicly traded (NYSE: LOW) Fortune 500 company with an S&P rating of BBB+. • Lowe’s is the nations second-largest hardware chain, with over 2,200 stores and over $72 billion in annual revenue. • Lowe’s has been in business for 99 years and is ranked 44th on the Fortune 500. • Lowe’s is an essential tenant and its sales are up 30% from last year during COVID. NEWLY EXTENDED 10-YEAR CORPORATE NNN GROUND LEASE • Lowe’s has operated at this location since 2000 (20-years) and recently extended the lease 10 more years demonstrating their commitment to the location. • There are currently over 10 years remaining on the lease with eight, 5-year option periods each with 5% rent increases. • Strong Investment grade corporate guarantee with national tenant with over 2,200 locations. • Lease is NNN and tenant is responsible for Taxes, Insurance, CAM, Roof & Structure. ATTRACTIVE PRIMARY RETAIL CORRIDOR LOCATION • This Lowe’s is well located on E Broad Ave (19,500 VPD) which is the primary retail corridor in Rockingham. • Surrounded by 2.5 M SF of retail within a 1 mile radius including Walmart, Tractor Supply, Food Lion, Walgreens, and more. • Located less than 1 mile from FirstHealth Moore Regional Hospital, a 610 Bed hospital with 3,700 employees. • Positioned 2 Miles from Richmond County Airport that sees an average of 28 aircraft operations per day • The 5-Mile Population of the location is 31,879. ROCKINGHAM, NC • Rockingham is located approximately 70 miles East of Charlotte and is the county seat of Richmond County. • Home to Rockingham Speedway and Entertainment Complex, which has a capacity of over 34,500 and holds multiple events per year. This track has also been used to film multiple notable movies. • Mackall Army Airfield, a primary training ground for the U.S. Army Special Forces, is located in Rockingham, NC. 270,811 military personnel are assigned to Mackall Army Airfield and Fort Bragg. • Downtown Rockingham is currently being revitalized as part of a ten-year plan named “Shaping Our Future: 2023”

Exclusively Listed By

  • Don McMinn

    Senior Managing Director Investments

    Email Don

    License(s): GA: 292036

    Atlanta

Broker of Record

  • Donald Gilchrist

    Senior Associate

    License(s): NC: 241055

    North Carolina

MM Texture Background
MM Textured Background Lower