Frito-Lay Distribution Center 23114 Sylva Rd
5,967 SF Industrial Building Franklin, NC 28734 $4,460,736 ($748/SF) 6.25% Cap Rate
INVESTMENT HIGHLIGHTS
- Long-Term, 10-Year Double Net (NN) Lease
- Approximately 9.9 Years Remaining
- Two (2), Five (5)-Year Tenant Renewal Options, Bringing the Potential Lease Term to 20+ Years
- Construction Completed in July 2024
- Two Percent (2.00%) Rental Increases Occurring Annually
EXECUTIVE SUMMARY
NNN Pro is pleased to present the exclusive listing for a Frito-Lay located at 23114 Sylva Road, Franklin, NC 28734. The site consists of roughly 5,967 rentable square feet of building space on an estimated 8.95-acre parcel of land. This Frito-Lay is subject to a 10-year Double Net (NN) lease, which commenced 7/15/2024. The current annual rent is $278,796 and has scheduled increases of 2.00% annually.
PROPERTY FACTS
| Price | $4,460,736 |
| Price Per SF | $748 |
| Sale Type | Investment |
| Cap Rate | 6.25% |
| Property Type | Industrial |
| Property Subtype | Distribution |
| Building Class | C |
| Lot Size | 8.95 AC |
| Rentable Building Area | 5,967 SF |
| No. Stories | 1 |
| Year Built | 2024 |
| Tenancy | Single |
| No. Dock-High Doors/Loading | 5 |
| Opportunity Zone |
Yes |
1 of 1
PROPERTY TAXES
| Parcel Number | 6595730097 | Improvements Assessment | $4,454,590 |
| Land Assessment | $810,000 | Total Assessment | $5,264,590 |
