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Shopping Strip

Chipotle | Aspen Dental

59 Highlands Square Dr, Hendersonville, NC 28792

Listing Price: $4,485,000

Cap Rate
5.75%
Gross SF
5,934
Rentable SF
5,934
Price/Gross SF
$755.81
Lot Size
1.82 acres
Year Built
2021

Investment Overview

NEW CONSTRUCTION CORPORATE CHIPOTLE & ASPEN DENTAL | WALMART & SAM’S CLUB OUTPARCEL • The subject property is a 5,934SF Class-A new construction two-tenant retail strip center located in Hendersonville (Asheville MSA), NC • Located as an outparcel to high-performing Walmart Supercenter & Sam’s Club • Walmart ranks in the top 80% of locations on a national and state level (Foot Traffic, Placer.ai) • The adjacent Chick-Fil-A ranks in the top 80% of locations on a national and state level (Foot Traffic, Placer.ai) • Interstate access and Walmart anchor makes this site a regional draw • The property is leased to best-in-class tenants Chipotle and Aspen Dental • All tenants are on long term 10 Year leases with increases and full Corporate Guarantees • New Class A construction features attractive cultured stone and brick exterior LONG TERM LEASES WITH INCREASES • Chipotle - Ten (10) Year Lease with a 7% rent increase in Year 6. • Chipotle - Four (4) Option periods of Five (5) years each with 10% increases. • Aspen Dental - Ten (10) Year Lease with 8% rent increase in Year 6. • Aspen Dental - Three (3) Option periods of Five (5) years each with 8% rental increases. STRATEGIC RETAIL LOCATION • Well-located at signalized intersection directly off Interstate 26 (65,500 VPD) along Chimney Rock Road (35,000 VPD) in the heart of the main retail corridor in Hendersonville • Surrounding National Retailers include Walmart, Sam’s Club, Shoe Show, Staples, Petco, Chick-Fil-A, & More • Subject Property is located 11 miles from the Asheville Regional Airport • Center sits at a hard corner signalized intersection with excellent visibility & multiple points of Ingress/ Egress HENDERSONVILLE, NC | ASHEVILLE MSA • Hendersonville is located 23 miles Southeast of Asheville, NC and is the county seat of Henderson County • Hendersonville is home to the North Carolina Apple Festival that has an annual attendance of over 250,000 • Asheville is the largest city in Western North Carolina with a population of over 460,000 • Asheville Regional Airport serves 1.6 million passengers a year with flights to all major East Coast Markets. • Asheville Regional Airport (AVL) contributes nearly $2 billion to the region’s economy and supports 12,520 jobs • Asheville is home to the Biltmore Estate, a historic house museum, and the property attracts 1.7 million visitors a year

Investment Highlights

  • Corporate Chipotle & Aspen Dental
  • 10 Year Leases With Increases
  • New Class-A Construction
  • Walmart & Sam's Club Outparcel
  • Heart of Major Retail Corridor
  • Asheville, NC MSA

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Regional Manager

    (843) 952-2222

    License(s) NC: 303785

    North Carolina

Shopping Strip

Chipotle | Aspen Dental

Listing Price: $4,485,000

Cap Rate
5.75%
Gross SF
5,934
Rentable SF
5,934
Price/Gross SF
$755.81
Lot Size
1.82 acres
Year Built
2021

Investment Highlights

  • Corporate Chipotle & Aspen Dental
  • 10 Year Leases With Increases
  • New Class-A Construction
  • Walmart & Sam's Club Outparcel
  • Heart of Major Retail Corridor
  • Asheville, NC MSA

Investment Overview

NEW CONSTRUCTION CORPORATE CHIPOTLE & ASPEN DENTAL | WALMART & SAM’S CLUB OUTPARCEL • The subject property is a 5,934SF Class-A new construction two-tenant retail strip center located in Hendersonville (Asheville MSA), NC • Located as an outparcel to high-performing Walmart Supercenter & Sam’s Club • Walmart ranks in the top 80% of locations on a national and state level (Foot Traffic, Placer.ai) • The adjacent Chick-Fil-A ranks in the top 80% of locations on a national and state level (Foot Traffic, Placer.ai) • Interstate access and Walmart anchor makes this site a regional draw • The property is leased to best-in-class tenants Chipotle and Aspen Dental • All tenants are on long term 10 Year leases with increases and full Corporate Guarantees • New Class A construction features attractive cultured stone and brick exterior LONG TERM LEASES WITH INCREASES • Chipotle - Ten (10) Year Lease with a 7% rent increase in Year 6. • Chipotle - Four (4) Option periods of Five (5) years each with 10% increases. • Aspen Dental - Ten (10) Year Lease with 8% rent increase in Year 6. • Aspen Dental - Three (3) Option periods of Five (5) years each with 8% rental increases. STRATEGIC RETAIL LOCATION • Well-located at signalized intersection directly off Interstate 26 (65,500 VPD) along Chimney Rock Road (35,000 VPD) in the heart of the main retail corridor in Hendersonville • Surrounding National Retailers include Walmart, Sam’s Club, Shoe Show, Staples, Petco, Chick-Fil-A, & More • Subject Property is located 11 miles from the Asheville Regional Airport • Center sits at a hard corner signalized intersection with excellent visibility & multiple points of Ingress/ Egress HENDERSONVILLE, NC | ASHEVILLE MSA • Hendersonville is located 23 miles Southeast of Asheville, NC and is the county seat of Henderson County • Hendersonville is home to the North Carolina Apple Festival that has an annual attendance of over 250,000 • Asheville is the largest city in Western North Carolina with a population of over 460,000 • Asheville Regional Airport serves 1.6 million passengers a year with flights to all major East Coast Markets. • Asheville Regional Airport (AVL) contributes nearly $2 billion to the region’s economy and supports 12,520 jobs • Asheville is home to the Biltmore Estate, a historic house museum, and the property attracts 1.7 million visitors a year

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Regional Manager

    (843) 952-2222

    License(s): NC: 303785

    North Carolina

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