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Office Supply

OfficeMax

423 Earl Rd, Shelby, NC 28150

Listing Price: $2,274,193

Cap Rate
7.75%
Tenant Name
OfficeMax
Years Remaining On Lease
3.4
Guarantor
Corporate Guarantee
Rentable SF
23,500
Lease Type
Absolute Net
Rent Per Square Feet
$7.50

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for an OfficeMax located at 423 Earl Road in Shelby, North Carolina. The site constructed in 1999, consists of roughly 23,500 rentable square feet of building space on estimated 2.49-acre parcel of land. OfficeMax is subject to a 15-year triple-net (NNN) lease, which commenced on August 23, 1999, and is currently in its second option period. The annual rent is $176,250. There are two (2), five (5)-year tenant renewal options remaining.

Investment Highlights

  • Long Term Site History, OfficeMax Has Occupied This Location Since 1999
  • Tenant Dedicated To This Location, Tenant Has Already Exercised Second Renewal Option, There Are Currently 3.9 Years Remaining In Second Option Period
  • Below Market Rent, Low Rent Per Foot & Price Per Foot

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Regional Manager

    (843) 952-2222

    License(s) NC: 303785

    North Carolina

Listing Price: $2,274,193

Cap Rate
7.75%
Tenant Name
OfficeMax
Years Remaining On Lease
3.4
Guarantor
Corporate Guarantee
Rentable SF
23,500
Lease Type
Absolute Net
Rent Per Square Feet
$7.50

Investment Highlights

  • Long Term Site History, OfficeMax Has Occupied This Location Since 1999
  • Tenant Dedicated To This Location, Tenant Has Already Exercised Second Renewal Option, There Are Currently 3.9 Years Remaining In Second Option Period
  • Below Market Rent, Low Rent Per Foot & Price Per Foot

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for an OfficeMax located at 423 Earl Road in Shelby, North Carolina. The site constructed in 1999, consists of roughly 23,500 rentable square feet of building space on estimated 2.49-acre parcel of land. OfficeMax is subject to a 15-year triple-net (NNN) lease, which commenced on August 23, 1999, and is currently in its second option period. The annual rent is $176,250. There are two (2), five (5)-year tenant renewal options remaining.

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Regional Manager

    (843) 952-2222

    License(s): NC: 303785

    North Carolina

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