Wells Fargo (Dark)

Wells Fargo (Dark)

Kannapolis, NC

Kannapolis, NC

Wells Fargo (Dark)

Offered for sale is the opportunity to acquire an absolute net lease Wells Fargo in Kannapolis, North Carolina. The property consists of a 3,559-square-foot, freestanding building that sits on 1.05 acres of land. There are approximately 1.4 years remaining on the current lease term, with a 10 percent rental escalation scheduled in the next option, as well as each option thereafter. This bank branch has been operating continuously at this location since 2003. Broker of Record for NC: Ben Yelm; (843) 952-2222; License: 303785

Price $850,000
Cap Rate 7.40%
Building Size 3,559 sqft
Lot Size 1.05 acres
Year Built 1958/2008
Offering Memorandum

Ryan Wolf

First Vice President Investments
(972) 755-5207
RWolf@marcusmillichap.com
License: TX 622900

Vincent Knipp

Senior Managing Director Investments
(972) 755-5205
vincent.knipp@marcusmillichap.com
License: TX 0579633
FINANCING TEAM

Duke Dennis

Director
(817) 932-6172

 

  • Redevelopment Opportunity - Wells Fargo has Future Rent Obligations Over the Remaining 1.4 Years of Lease Term
  • Excellent Access and Visibility on North Cannon Boulevard (20,780 VPD)
  • Kannapolis is Undergoing Major Changes Through Numerous Development Initiatives
  • Thirty Minute Drive to Charlotte, NC (Population of 2.7 Million)

Ryan Wolf

First Vice President Investments
(972) 755-5207
RWolf@marcusmillichap.com
License: TX 622900

Vincent Knipp

Senior Managing Director Investments
(972) 755-5205
vincent.knipp@marcusmillichap.com
License: TX 0579633
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