Manheim

169 Auction Drive, Rocky Point, NC 28457

$12,360,000

Cap Rate 6.50%

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DOM: 20 Updated: 08.14.25 Posted: 08.14.25 Status: Active 08.14.25

Summary

Price $12,360,000	Built/Renov 2024	Tenant Manheim
Cap Rate 6.50%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 14,400	Lease Start 12-17-2024	#Units 200
Price/SF $858.33	Expiration 11-30-2034	Tenant Type Automotive
NOI $803,400	R. Term 9.3	Ownership Fee Simple
Rent/SF $55.79	Increases 3.0%/2/yrs	Pop 5Mi 10,454
Lot/AC 58.51	Options 3/5yrs/3%	AHHI 5Mi $77,362

Tyson Glasser

Trinity Partners

Contact

Highlights

Manheim Auto has been at this location since 2014 with two five-year renewal options
The lease features 3% annual rental increases
Absolute NNN Lease | Zero Landlord Responsibilities
Corporate guarantee

Location Description

Manheim Auto is strategically located along U.S. Highway 117 in Rocky Point, North Carolina, with access to a daily traffic count of approximately 43,400 vehicles. The site is surrounded by major national retailers including Walmart Supercenter, Food Lion, Dollar General, and Advance Auto Parts, driving consistent consumer traffic to the area. The property is located near several schools,...

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Key Features

New construction
Oversized lot
Freeway close
Highway location
Strong demographics
Population increase trend
Absolute NNN
Long 10+ yr lease
Corporate Guarantee
Investment grade tenant

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Links

Manheim Wikipedia Manheim Wikipedia Rocky Point, NC Zip code 28457 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Manheim
Guarantor:Corporate
Company:Cox Automotive, Inc.
# Units:200

About Tenant

Established as a wholesale vehicle auction operation in 1945, Manheim has been setting the industry standard for buying and selling used vehicles for over 75 years. As the nation’s leading...

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Listing Broker

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