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Brightview, North Wilkesboro, NC

Brightview

North Wilkesboro, North Carolina

Price $727,000
Cap Rate 6.50%
NOI $47,250
Lease Term 10 Years
Lease Type Net, With Tenant Responsible For All Taxes, Insurance, And Maintenance, Excluding Foundation And Exterior Walls
Rental Increases 2% Annual Rental Increases
Year Built 2022
Building Size 4,500 SF
Lot Size 1.191 Acres (51,897 SF)
Status Available
Lead Broker Information Vincent Aicale
Executive Managing Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Executive Managing Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Michael T. Yuras, CCIM
Vice Chairman
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Executive Managing Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Investment Highlights

10-YEAR NET LEASE WITH RARE ANNUAL RENTAL INCREASES
» 10-year net lease with minimal landlord management
» Rare 2% annual rental increases, providing a hedge against inflation
» BrightView is a private medical services provider that focuses on addiction treatment and now operates more than 77 medical centers in Ohio, Kentucky, Virginia, Delaware, Massachusetts, and North Carolina
» BrightView Health served a record number of patients (more than 10,000) in Ohio since opening its doors in 2015

INFILL LOCATION WITH ACCESS TO POPULOUS NORTH CAROLINA CITIES
» Access to 18,000 vehicles per day on nearby West D Street, with beneficial proximity to U.S. Highway 421 (26,000 AADT)
» U.S. Highway 421 provides an important connection between the cities of Wilmington, Sanford, Greensboro, Winston-Salem, and Boone
» 64,135 residents within a 15-mile radius of the property
» Average annual household income of $68,428 within 15 miles and projected to increase 15% by 2027, poising BrightView and North Wilkesboro for significant concurrent growth
» Gateway to major North Carolina cities, Greensboro (298,263 population), Charlotte (879,709 population), and Winston-Salem (250,320 population)

PRIME LOCATION NEAR LARGE EMPLOYERS, SCHOOLS, AND RETAILERS
» Excellent location in a large medical office area less than a mile from Wilkes Medical Center (130 beds), the largest hospital in northwestern North Carolina and North Wilkesboro’s largest employer
» Minutes from Tyson Foods Inc. (3,000+ employees), the largest employer in Wilkes County
» Surrounded by a strong mix of local and national retailers, including Walmart Supercenter, Lowe’s Home Improvement, Walgreens, CVS, ALDI, First National Bank, and many more
» Located within Wilkes County School System serving a student population of 9,355


Property Description

Brightview is located conveniently on West Park Circle with access to 18,000 vehicles per day on West D Street. The site maintains beneficial proximity to U.S. Highway 421 (26,000 AADT), which provides an important connection between the cities of Wilmington, Sanford, Greensboro, Winston-Salem, and Boone. 64,135 residents live within a 15-mile radius of the property with an average annual household income of $68,428. The average annual household income is projected to increase 15 percent by 2027, poising BrightView and North Wilkesboro for significant concurrent growth. The location is a gateway to major North Carolina cities, Greensboro (298,263 population), Charlotte (879,709 population), and Winston-Salem (250,320 population).

The property is in an excellent location in a large medical office area less than a mile from Wilkes Medical Center (130 beds), the largest hospital in northwestern North Carolina, and North Wilkesboro’s largest employer. Additionally, the property is just minutes from Tyson Foods Inc. (3,000+ employees), the largest employer in Wilkes County. The site is surrounded by a strong mix of local and national retailers, including Walmart Supercenter, Lowe’s Home Improvement, Walgreens, CVS, ALDI, First National Bank, and many others. The property is within the Wilkes County School System which serves a student population of 9,355.

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