For Sale
$2,004,000

327 Caswell StWadesboro, NC 28170

High-return Popeyes investment. 17 years remaining.

Overview

Added:
Dec 11, 2024
Days on market:
117
This exceptional investment opportunity presents a fee-simple, Class A, 1,930 square-foot Popeyes restaurant located at 327 E Caswell St, Wadesboro, NC 28170. Built in 2020, this single-story building boasts a drive-thru and enjoys 100% occupancy under a 20-year net lease (with four 5-year options) commencing January 1, 2021, and expiring December 31, 2040. The lease features attractive 1.5% annual rent bumps, providing a hedge against inflation. The property generates a substantial net operating income (NOI) of $120,253, resulting in a compelling 6.00% cap rate. Positioned on Wadesboro's main commercial corridor, this strategically located property benefits from high visibility and accessibility to Highway 74, experiencing traffic counts exceeding 27,500 vehicles per day. The property is surrounded by national retailers including Wendy's, Truist, Arby's, AutoZone, BP, Food Lion, and Tractor Supply Company, ensuring a robust customer base. This prime location is situated between the Charlotte MSA and the beaches, benefiting from strong sales and a convenient location within a thriving community. The asking price is $2,004,000, translating to $1,038.34 per square foot. This is an absolute NNN lease, meaning zero landlord responsibilities. The tenant is a strong multi-unit operator, providing further security and stability for this investment. The property's location in Wadesboro, NC, nicknamed "The Heart of the Carolinas," offers easy access from both North and South Carolina, approximately one hour east of Charlotte.

Highlights

  • New 2020 construction with drive-thru.
  • Strong tenant-reported sales.
  • 17 years remaining on a 20-year absolute NNN lease, guaranteed by a strong multi-unit operator.
  • Absolute NNN lease; zero landlord responsibilities.
  • Attractive 1.5% annual rent increases.
  • Prime location on Wadesboro's main commercial corridor, near Wendy's, Truist, Arby's, AutoZone, BP, Food Lion, and Tractor Supply Company.

Property Details for 327 Caswell St

Property type
Retail properties, Restaurants
Square Feet
1,930 SF
Class
A
Year Built
2020
Buildings
1
Stories
1

Location Insight

City
Wadesboro
County
Anson
State
North Carolina
Latitude
34.968937
Longitude
-80.0728519
327 Caswell St, Wadesboro, North Carolina

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327 Caswell St
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