Asheville, North Carolina – 1031 Exchange information comes from the beautiful State of North Carolina this evening. There are many options to move up on with a 1031 Tax Deferred Exchange, including NNN Lease Investments. Our Net Lease Property checked revealed the sale of a Walgreen’s Pharmacy. this net lease property is a 15,371 square foot, single-tenant investment. This net leased property is located in Hendersonville, North Carolina. This transaction would prove to be a desired 1031 Exchange. A 1031 Exchange is also referred to as a Like Kind Exchange or 1031 Tax Deferred Exchange. A 1031 Exchange is a way of structuring the sale of certain kinds of commercial investment property so that the capital gains tax on a seller’s profit or gain is deferred.
Hendersonville, North Carolina is located approximately 20 miles southeast of Asheville, North Carolina. This Net Leased Property is in Henderson County. Henderson County is part of the four-county Asheville Metropolitan Statistical Area, and remains one of the mot highly populated areas in North Carolina. With numbers like these for retail traffic, this is a wise choice for triple net lease properties. The historic downtown of Hendersonville has a well-preserved Main Street district with many restaurants, antique shops, and boutiques. Hendersonville is home to many festivals throughout the year and maintains a steady amount of tourism from the surrounding vacation destinations.
This unique net-leased investment gives this savvy investor a long-term net leased property with an A+ rated tenant in the well-established bedroom community of Hendersonville, North Carolina. The net lease property address is 1148 Asheville Hwy, Hendersonville, NC 28791. The Net Lease Investment was purchased for $5,033,000. 1031 Exchange transaction are the way to go since issuance of the 1991 Regulations. At that time, 1031 tax deferred exchanges are easier, less expensive and safer than prior years. We see the Triple Net Lease Properties as the darlings for 1031 Exchange Property now.
This Commercial Property had a rent commencement date of February 16, 2009. The whereabouts of the net lease investment is on the NE corner of the intersection of Oakland Street and Asheville Highway/US-25. This is a desirable location for triple net lease properties as the intersection is considered the epicenter of Hendersonville. Also US-25 serves as the main north-south commercial corridor that runs through the historic downtown district. Again, a wise investment for a 1031 Exchange Property has No Landlord responsibilities, and the tenant is responsible for all expenses, including taxes, insurance and CAM.
This net lease property site was strategically chosen due to its proximity to the Margaret R. Pardee Memorial Hospital, various (MOB) medical office buildings and the local high school and middle school. Nearby possibilities for a 1031 Exchange are National retailers such as SunTrust, Exxon, Rite Aid, Ingles, Bank of America, Burger King and Sprint are all located in the immediate vicinity. Walgreens (S&P Rating: A+, NYSE:WAG) is currently the #1 drugstore in sales. The company operates over 7,500 stores in all 50 states, and the District of Columbia.