Property Map

Advance Auto Parts

1242 Yadkinville Rd, Mocksville, NC
  • Property Type: Retail
  • Size: 7,000 Sq. Ft.
  • Date Closed: 06/11/2018

Challenges

• Less than 2 Years left on original lease
• Tenant would no longer negotiate with Landlord
• Tertiary market – less than 900 people within 1 mile
• Tenant reported 8 years of concurrent decreasing sales

Solutions

• Opened lines of communication between Tenant and Landlord to pinpoint exact intentions of Tenant’s future direction. Uncovered Tenant had no further interest in extending duration of lease without a 35% in rent concession and a $75,000 Cap X improvement Allowance.
• Marketed to our National Database with a focus on short term lease investors and local, North Carolina developers
• Discussed with local municipality about redevelopment opportunities

Results

• Generated 3 LOI’s within 15 days.
• Local developer closed on the investment within 34 days of executed PSA
• The property closed at 89.7% of the listing price
• Found Seller a better commercial investment generating a higher rate of return, through 1031 Starker Exchange

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