Read's Uniforms Sale Leaseback

High Quality Facility with Efficient Layout – The ±10,979 SF masonry-constructed building features ±9,000 SF of functional warehouse space complemented by ±1,979 SF of office, clear heights of 16’, one dock-high door, and one grade-level door. Situated on a ±1.33-acre parcel with a low 19% coverage ratio, the property provides both operational efficiency and long-term site flexibility.
Stable Cash Flow with Growth – Backed by a corporate lease from Read’s Uniforms (https://shopreadsuniforms.com), investors benefit from a secure 3-year NN+ leaseback structure commencing at close of escrow. The lease includes 3% annual rental increases, with contractual rent starting at $14.25/SF with a renewal option, offering predictable income growth and long-term upside.
Attractive Entry Pricing – Offered at $1,875,000 the property delivers an initial 8.34% cap rate with escalations driving the average yield to 9.0% if the option is exercised. This pricing presents a compelling basis for investors relative to replacement cost and market comparables in Charlotte’s tight industrial submarket.
Limited Landlord Obligations – The NN+ lease structure places responsibility for property taxes, insurance, and CAM on the tenant. Landlord responsibilities are limited to roof, structure, HVAC replacement, and parking lot, reducing operational risk and supporting consistent investor returns.
Strategic Charlotte Location– Positioned in one of the fastest-growing industrial markets in the Southeast, Charlotte continues to benefit from strong population growth, a diversified economy, and demand from e-commerce, logistics, and service-based tenants. With industrial vacancies near historic lows, this property stands out as a high-quality leased investment offering both stability and upside.

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Kyle Matthews