Lowe's Home Improvement

Lowe's Home Improvement

1300-A E Broad Ave
Rockingham, NC

Price: $7,728,000
Cap: 5.50%
NOI: $425,000
Building Size: 129,529
Lot Size: 8.42 AC

Investment Highlights

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”.

Don McMinn
OFFERING MEMORANDUM

Email not recognized.
In lieu of a confidentiality agreement, we request that you complete the following form in order to download an Offering Memorandum or try again.







Principal or Broker?