SiteOne Landscape Supply | 2% Annual Rent Increases | 11+ Years of Lease Term Remaining
6212 Clementine Dr Clemmons, NC 27012 (Winston-Salem MSA)
Price: $1,940,000
Status: Sold
Cap Rate: 5.00%
Year Built: 1986 | Renovated in 2021
NOI: $97,002
Lot Size: 5.05 acres
Price Per Foot: $141
Lease Type: Triple-Net (NNN)
Remaining Term: 11+ Years
GLA: 13,800 sqft
Property Intro
Lee & Associates is pleased to exclusively offer for sale the opportunity to acquire the fee simple interest (land & building)
in a SiteOne Landscape Supply (NYSE: SITE) Industrial Facility investment property located in Clemmons, North Carolina
(the “Property”). Constructed in 1986 and renovated in 2021, the Property consists of a 13,800-square-foot retail &
warehouse building situated on a 5.05-acre lot. This property is listed in conjunction with North Carolina licensed Real Estate Broker Bang Realty-North Carolina, Inc. (LIC# C286621)
investment highlights
- Strong Credit Tenant: SiteOne Landscape Supply (S&P: BB+) • Largest National Wholesale Distributor of Landscape Supplies • Revenues of $2.7 Billion (2020):
The property is leased to SiteOne Landscape Supply (NYSE: SITE), the largest and only national wholesale distributor of landscape supplies in the United States. Founded in 2001, SiteOne operates 550 branches and three distribution centers in 45 states and offers a comprehensive selection of more than 100,000 stock keeping units, or SKUs, including irrigation supplies, fertilizer, and control products (e.g., herbicides), landscape accessories, nursery goods, hardscapes (including pavers, natural stones, and blocks), outdoor lighting and ice melt products. - New 11+Year NNN Lease • 2% Annual Rent Growth • Minimal Landlord Responsibilities: SiteOne’s new 11+ year lease commenced in August 2021 and features 2% annual rent increases in the Primary Term and (3) 5-year options, providing an investor with a long-term lease passive income stream with steady rent growth. Additionally, the NNN passive nature of the lease provides for the tenant to be responsible for all maintenance and repairs aside from roof replacement.
- Real Estate Advantage • Just 3 Miles from On/Off Ramp to Interstate 40 (65,000 CPD) • Close Proximity to Downtown Winston-Salem: The property is ideally located just 3 miles from Interstate 40 (65,000 CPD) for quick access to Downtown Winston-Salem 13 miles to the northeast and connecting to Interstate 74 for transport to Charlotte 74 miles to the southwest.
- Ideal Property Layout for Tenant • Expansive Parking and Yard • Drive-Around Access & Loading: The property is ideally suited to the tenant’s needs. The large 5.05-acre site offers 13,800 square feet of warehouse space with 17’ ceiling height, a large outside storage yard, ample parking for trucks and trailers, 3 exterior loading docks and 2 12’ x 14’ drive-in doors, and drive-around truck access.
- Located in Clemmons, NC • Suburb of Winston-Salem: • Dynamic Economy • Educated & Talented Work Force: The property is within Clemmons, a suburb of Winston-Salem, the county seat of Forsyth County and fifth most populous city in North Carolina. Winston-Salem is perfectly situated within 650 miles of half of the U.S. population, between Raleigh, Charlotte, Atlanta, and Washington D.C. Recent interstate upgrades add to the convenience, with downtown at the crossroads of Interstate 85, Interstate 77, Interstate 40, Salem Parkway (Business 40), and U.S. Highway 52. Three international airports are within two hours of Winston-Salem, adding to its convenient location.
- With a 120,000+ strong regional labor pool in Winston-Salem alone, companies have access to top talent both within the city and the greater Triad region. 42.83% of the population in Winston-Salem have an associate degree or higher, while 88.19% have a high school degree or higher. Companies across diverse industries from tech to healthcare continue to grow in Winston-Salem thanks to its business-friendly environment, available real estate and central location. Major corporations like Hanesbrands, Garner Foods and Inmar Intelligence have built business empires here alongside key players like Collins Aerospace, Caterpillar, Cook Medical, Corning, Deere-Hitachi and scores of other companies.
listing agents
