Drivetime

Corporate-Guaranteed Lease: The lease is corporately guaranteed by DriveTime, a national used-vehicle retailer with a substantial operating footprint across the United States, providing strong institutional-quality credit support.
Primary Lease Term Through February 19, 2029: Approximately three (3) years of remaining primary term plus three (3) five-year renewal options. Each option includes a 10% rental increase at commencement, offering meaningful long-term income growth.
High-Visibility Retail Corridor: Prominent frontage along Peters Creek Parkway, a primary north-south commercial artery in Winston-Salem, delivering consistent daily traffic counts and strong consumer exposure.
Recent Tenant Capital Investment: Tenant recently completed approximately $500K in interior renovations and office upgrades, modernizing the space and enhancing operational functionality. This significant capital commitment demonstrates the tenant’s long-term confidence in the location and reduces near-term rollover risk, providing investors with increased income stability.
Dense and Established Population Base: Approximately 166,925 residents within a 5-mile radius and 378,239 residents within 10 miles, supporting sustained retail and automotive demand.
Strong Household Income Demographics: Average household income of $90,841 within a 5-mile radius, reflecting stable middle-income demographics well aligned with DriveTime’s core customer profile.
Strategic Location in Winston-Salem: Positioned within a diversified regional economy supported by healthcare, education, logistics, and advanced manufacturing sectors.
University-Driven Economic Stability: Proximity to Wake Forest University, Winston-Salem State University, UNC School of the Arts, and Forsyth Technical Community College provides a stable population base and ongoing workforce pipeline.
Established Automotive & Service Retail Corridor: Located among national retailers, automotive dealerships, and service-oriented businesses that reinforce the long-term viability of the automotive use.
Attractive Risk-Adjusted Pricing: Pricing reflects the lease’s 90-day termination right while still offering a compelling yield supported by strong real estate fundamentals and embedded rental growth.

Navigation Menu

Key Information

Highlights

Photos

Location

Agents

Broker of Record

Gerard Hamas