FOR SALE National Tire & Battery (NTB) 465 Earl Road, Shelby, NC 28150 - 7% CAP RATE - LoopNet
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ACTUAL PHOTO 7 % C A P R AT E SALE PRICE $2,544,000 FOR SALE National Tire & Battery (NTB) 465 Earl Road, Shelby, NC 28150
TABLE OF CONTENTS
Confidentiality & Disclaimer Contents
All materials and information received or derived from NNN Investment Advisors its directors,
1. PROPERTY INFORMATION
officers, agents, advisors, affiliates and/or any third party sources are provided without
representation or warranty as to completeness , veracity, or accuracy, condition of the property,
Executive Summary 4
compliance or lack of compliance with applicable governmental requirements, developability or Investment Overview 5
suitability, financial performance of the property, projected financial performance of the property Complete Highlights 6
for any party’s intended use or any and all other matters. Lease Summary 7
Additional Photos 8
Neither NNN Investment Advisors its directors, officers, agents, advisors, or affiliates makes any
Additional Photos 9
representation or warranty, express or implied, as to accuracy or completeness of the any materials
or information provided, derived, or received. Materials and information from any source, whether
Aerial 10
written or verbal, that may be furnished for review are not a substitute for a party’s active conduct of Aerial/Parcel Map 11
its own due diligence to determine these and other matters of significance to such party. NNN Retailer Map 12
Investment Advisors will not investigate or verify any such matters or conduct due diligence for a Retailer Map 13
party unless otherwise agreed in writing. Expanded Retailer Map 14
Regional Maps 15
EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE.
Tenant Profile 16
Any party contemplating or under contract or in escrow for a transaction is urged to verify all Area Overview 17
information and to conduct their own inspections and investigations including through Sale Comps Summary 18
appropriate third party independent professionals selected by such party. All financial data should Demographics Map 19
be verified by the party including by obtaining and reading applicable documents and reports and Advisor Bio & Contact 20
consulting appropriate independent professionals. NNN Investment Advisors makes no warranties
Back Page 21
and/or representations regarding the veracity, completeness, or relevance of any financial data or
assumptions. NNN Investment Advisors does not serve as a financial advisor to any party regarding
any proposed transaction. All data and assumptions regarding financial performance, including
that used for financial modeling purposes, may differ from actual data or performance. Any
estimates of market rents and/or projected rents that may be provided to a party do not necessarily
mean that rents can be established at or increased to that level. Parties must evaluate any
applicable contractual and governmental limitations as well as market conditions,vacancy factors
and other issues in order to determine rents from or for the property.
Legal questions should be discussed by the party with an attorney. Tax questions should be
discussed by the party with a certified public accountant or tax attorney. Title questions should be
discussed by the party with a title officer or attorney. Questions regarding the condition of the
property and whether the property complies with applicable governmental requirements should
be discussed by the party with appropriate engineers, architects, contractors, other consultants and
governmental agencies. All properties and services are marketed by NNN Investment Advisors in
compliance with all applicable fair housing and equal opportunity laws.
2
ACTUAL PHOTO 7 % C A P R AT E SALE PRICE $2,544,000 1 PROPERTY INFORMATION
EXECUTIVE SUMMARY
OFFERING OVERVIEW
NNN Investment Advisors is pleased to present this National Tire & Battery (NTB),
an absolute triple net (NNN) single-tenant investment offering, located in
Shelby, North Carolina. The subject property was completely remodeled in 2015
and consists of approximately 6,656 SF, with 8 service bays on a large 1.97 acre
lot. There are approximately 4.6 years remaining on the original 20 year lease
term, with attractive 10% rental increases every 5 years with three (3), five year
options. The lease is guaranteed by TBC Corp, a unit of Japan's Sumitomo
Corporation of America (SCOA). TBC Corp. operates some 2,700 stores in the U.S.
and Canada comprised of nearly 1,500 franchised Midas stores, and 1,200 TBC
Retail Group stores. There is also a commercial billboard on site which
generates additional annual income and has been outperforming its minimum
rent threshold.
An Investor will capitalize on both the real estate appreciation and scheduled
increases throughout the lease terms as well as attractive in-place non recourse
assumable financing which provides a healthy leveraged yield in today's low
yield environment.
LOCATION OVERVIEW
The Subject property is located on the southeast side of Shelby, NC, which is
approximately 40 miles west of Charlotte and 60 miles east of Asheville.
Situated on the main retail corridor with direct frontage on busy US Hwy 72/
Dixon Blvd, the property is an out-parcel to Lowe’s and adjacent to Walmart
Super Center. Other surrounding retailers include Aldi, Walgreens, Office Depot,
PetSmart, Big K-Mart, Chick-Fil-A, Aaron's, Planet Fitness, Applebee’s, Jack in the
Box, Next Care Urgent care, Dunkin’ Donuts, IHOP,, KFC, Golden Coral and more.
A new LIDL grocery is being constructed nearby and Shelby High School is 1/2
mile away. The strong traffic counts (44,000 VPD on US Hwy 72), presence of
major retailers and nearby residential communities make this property an ideal
NTB location.
PROPERTY INFORMATION 4
INVESTMENT OVERVIEW
Investment Overview Property Overview Lease Overview
Sale Price: $2,544,000 Building Size: 6,656 SF Lease Type: Absolute NNN
Cap Rate: 7.0% Lot Size: 1.97 Acres Guarantee: Corporate / TBC Corp.
NTB NOI: $171,682 Year Built: 2002 Initial Term: 20 Years
Billboard Income: $6,449 Renovated: 2015 Start Date: 10/01/2002
Total NOI: $178,131 Ownership: Fee Simple End Date: 09/30/2022
Price/SF: $374.09 Parcel ID: 53748 Options: Three (3). 5-Year
Escalations: 10% Every 5 Years
PROPERTY INFORMATION 5
COMPLETE HIGHLIGHTS
LOCATION HIGHLIGHTS
• Lowes/OfficeMax/Aldi Out Parcel
• Directly adjacent to Super Walmart
• Exceptional, high visibility site on main retail thoroughfare
• Strong traffic counts of 44,000 VPD on Hwy 72 and 9,900
VPD on Earl Rd.
• Located in Charlotte MSA - 4th Fastest Growing MSA in the
Nation
• Retailers in the immediate area include Lowes, Wal-Mart
Super Center, BIG K-Mart, OfficeMax, Walgreens, PetSmart,
Burger King, Wendy’s, McDonalds, Taco Bell, Arby’s, Sonic,
IHOP, Pizza Hut, Dunkin' Donuts, Firehouse Subs, Advance
Auto Parts, O’Reilly, Autozone, Napa, Goodyear, Applebee’s,
Jack In The Box, GameStop, Chick-Fil-A and more
INVESTMENT HIGHLIGHTS
• Corporate guaranty by TBC Corporation - 1,200 retail stores
• Interior, Exterior and Parking Lot Remodel in July 2015
Showing Commitment to Location
• Absolute NNN Lease - No Landlord Responsibilities
• Attractive 10% Rental Increases
• Assumable Everbank, non-recourse loan in the amount of
$1,042,665 (contact Broker for loan details)
• Additional billboard income of $6,449 a year
PROPERTY INFORMATION 6
LEASE SUMMARY
PROPERTY INFORMATION 7
ADDITIONAL PHOTOS
PROPERTY INFORMATION 8
ADDITIONAL PHOTOS
PROPERTY INFORMATION 9
AERIAL
PROPERTY INFORMATION 10AERIAL/PARCEL MAP
PROPERTY INFORMATION 11RETAILER MAP
PROPERTY INFORMATION 12RETAILER MAP
PROPERTY INFORMATION 13EXPANDED RETAILER MAP
PROPERTY INFORMATION 14REGIONAL MAPS
PROPERTY INFORMATION 15Tenant Summary
Tires • Service • Brakes • Batteries
National Tire and Battery (NTB) is an American Brand of Auto Service
Centers; Founded in 1997. NTB Tire and Service Centers Provide a
Broad Range of Automotive Maintenance and Tire Service in More
Than 400 Retail Locations Across the United States.
Highlights National Tire and Battery is a Wholly Owned Subsidiary of TBC Corpo-
• Tenant Trade Name: National Tire and Battery ration, Which Operates Tire and Automotive service Centers Under the
• Lease Guarantor: TBC Corporation
Tire Kingdom Service Centers, Merchant’s Tire & Auto Centers, Nation-
al Tire and Battery Tire and Service Centers, Big O Tires, and Midas
• Ownership: Private
Brand Names. TBC is Considered the Second Largest Retail Tire and
• Headquarters: Palm Beach Gardens, FL
Auto Service Provider in the United States.
• Number of Locations: Over 1,200 Stores
• Website: www.tbccorp.com
TBC Corporation is Owned By and Functions as a Independent Com-
pany of Sumitomo Corporation of America (SCOA). SCOA is the Larg-
Batteries contain lead, powerful acids and other dangerous est Subsidiary of Sumitomo Corporation; One of Japan’s Major Integrat-
materials. When we swap out your battery, we’ll safely recycle
it, including the plastic casings. This helps keep hazardous
ed Trading and Investment Business Enterprises.
waste out of landfills and waterways.
When you buy new tires at our service centers, we send your
old tires for recycling. The recycled rubber goes toward making
new things like roads, athletic surfaces, shoe soles and much
more.
Sold motor oil, ATF fluid and even old coolant are toxic to
people and animals. That’s why our experts always ensure
your used oil and fluids are properly recycled after every oil
and fluid change.AREA OVERVIEW
Shelby is located in the Charlotte Metropolitan Area which is the 4th fastest growing MSA in the Nation. It is the largest in the Carolinas, and the fourth largest metropolitan area in
the Southeastern region of the United States behind Miami, Atlanta and Tampa. Most well known for NASCAR and its auto racing history, the region is headquarters to 8 Fortune
500 and 7 Fortune 1000 companies including Bank of America, Duke Energy, Sealed Air Corporation, Nucor Steel, and Lowe's Home Improvement Stores. Additional headquarters
include Harris Teeter, Food Lion, Cheerwine and Sundrop. It is home to one of the world's busiest airports, Charlotte Douglas International Airport, and is also the Carolinas' largest
manufacturing region.
Shelby is County Seat to Cleveland County. US Hwy 74 is the main business route connecting travelers with the downtown business district and also connects to Charlotte
approximately 40 miles to the east and Asheville approximately 60 miles to the west. Shelby is home to the Cleveland County Fair with over 145,000 visitors each year and also
host to the American Legion World Series. Affectionately known as the "City of Pleasant Living”, Shelby is located at the confluence of the beautiful rolling foothills of the Blue
Ridge Mountains and the bustling Metrolina region of the Carolinas. Proximity allows easy, convenient access to two international airports -Charlotte-Douglas, and
Greenville-Spartanburg, just over the South Carolina state line.
PROPERTY INFORMATION 17SAL E COMPS SUMMARY
SALE SALE LEASE TERM YEAR LAND
SUBJECT PROPERTY DATE PRICE REMAINING BUILT BLDG SF (ACRES) PRICE/SF CAP
National Tire & Battery (NTB)
465 Earl Road $2,544,000 Negotiable 2002 6,656 SF 1.97 AC $382.21 7.0%
Shelby, NC 28150
SALE SALE LEASE TERM YEAR LAND
SALE COMPS DATE PRICE REMAINING BUILT BLDG SF (ACRES) PRICE/SF CAP
NTB
1 915 E. Ogden Ave 05/12/2017 $2,950,000 - 2011 7,200 SF 0.85 AC $409.72 5.75%
Napervlle, IL 60563
NTB
2 5727 Reisterstown Rd 05/31/2016 $2,782,609 15 Years 1964 11,513 SF 0.46 AC $241.69 5.75%
Baltimore, MD 21215
NTB
3 1731 Mallory Ln 05/26/2017 $4,115,000 - 2009 8,539 SF 1.1 AC $481.91 5.5%
Brentwood, TN 37027
NTB
8030 President George Bush
4 12/07/2016 $3,850,000 15 Years 2009 8,074 SF 0.82 AC $476.84 5.54%
Tpke
Dallas, TX 75252
NTB
5 1605 Scenic Hwy 07/20/2016 $3,350,000 15 Years 2002 7,050 SF 1.06 AC $475.18 6.0%
Snellville, GA 30078
NTB
6 8435 Davis Lake Pky 08/16/2016 $2,900,000 13 Years 2016 7,350 SF 0.99 AC $394.56 5.57%
Charlotte, NC 28269
PROPERTY INFORMATION 18DEMOGRAPHICS MAP
POPULATION 1 MILE 3 MILES 5 MILES
Total population 3,095 22,336 38,023
Median age 42.3 38.9 38.9
Median age (male) 38.8 34.9 36.1
Median age (Female) 44.3 41.8 40.9
HOUSEHOLDS & INCOME 1 MILE 3 MILES 5 MILES
Total households 1,230 8,856 14,798
# of persons per HH 2.5 2.5 2.6
Average HH income $55,351 $45,297 $47,089
Average house value $109,763 $106,964 $116,738
* Demographic data derived from 2010 US Census
PROPERTY INFORMATION 19ADVISOR BIO
LORRIE GARBARZ PROFESSIONAL BACKGROUND
Broker / Principal Lorrie Garbarz has a diverse background in commercial real estate, with more than 20 years of experience as an
owner, manager and broker of commercial and multi-family properties throughout the United States and
Canada. Throughout her career she has been directly responsible for all aspects of valuation, acquisition,
disposition, sale-leaseback, development and management of commercial properties and single/multi-family
portfolios. She has extensive experience navigating complex deal structures and the successful acquisition and
disposition of hundreds of properties in all asset classes including distressed, REO and bank owned assets
through her extensive network.
Lorrie has cultivated a diverse clientele of principals and senior representatives of numerous international
investment institutions, publicly traded and privately held REITs, family offices, developers and corporations as
well as individual investors, where she focuses exclusively on net lease investment sales, as well as off market
transactions. Her vision is to build a diverse teams of professionals who bring their own perspective and creative
solutions to successfully execute complex real estate transactions. Lorrie has a special interest in NNN properties
and continually engages new investors, seeking out ideal revenue generating assets that match her investors’
portfolio strategies and risk tolerance. Her passion for strategically matching investors to lucrative real estate
3951 N. Haverhill Road, Suite 213
opportunities that maximize value and exceed investment goals has been the driving force for her success
West Palm Beach, FL 33417 throughout the years.
T 248.943.3331
C 248.943.3331 Lorrie has brought her extensive IT background to the commercial real estate industry. Before starting NNN
lgarbarz@nnninvestmentadvisors.com Investment Advisors, Lorrie co-founded a highly successful business intelligence and data analytics consulting firm
where she worked directly with C-level executives at leading Fortune 100 companies, leveraging technology to
solve complex business issues.
EDUCATION
Lorrie is a graduate of the University of Michigan and holds dual bachelor’s degrees in Finance and Marketing.
MEMBERSHIPS & AFFILIATIONS
International Counsel of Shopping Centers (ICSC)
PROPERTY INFORMATION 207 % C A P R AT E SALE PRICE $2,544,000 FOR MORE INFORMATION, PLEASE CONTACT: LORRIE GARBARZ Broker / Principal 248.943. 3331 lgarbarz@nnninvestmentadvisors.com
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