For Sale
$2,714,000

1517 Nc 24-87 Cameron, NC 28326

High-Yield Popeyes Restaurant in NC

Overview

Added:
Dec 11, 2024
Days on market:
137
This exceptional investment opportunity presents a brand-new, 1,990 square foot Popeyes restaurant in Cameron, North Carolina. Built in 2024, this Class A property boasts a 15-year absolute triple-net (NNN) lease with a franchisee tenant, ensuring minimal landlord responsibilities. The lease includes attractive 8% rent increases every five years, providing significant long-term growth potential. Located on a highly visible 1.13-acre lot fronting NC Hwy 24-87 (41,000 vehicles per day), the property benefits from its strategic position within a rapidly growing area, experiencing a 7% annual population growth over the past 13 years. The surrounding area features over 212,000 square feet of retail space within a one-mile radius, including national brands like McDonald's, Food Lion, and Wendy's. The property's proximity to Fort Liberty, the world's largest military base, further enhances its value and stability. With a current NOI of $162,864 and an asking price of $2,714,000, this investment offers a compelling 6% cap rate. The lease includes three 5-year renewal options, providing additional long-term security. This is a fee-simple ownership opportunity with no ground lease. The property's strong tenant, favorable lease terms, and prime location make it an ideal addition to any investment portfolio.

Highlights

  • New 15-year Absolute NNN lease with 8% rent increases every 5 years; no landlord responsibilities.
  • Popeyes, a major quick-service restaurant chain with over 4,100 locations globally, is the tenant.
  • Located approximately 12 miles from Fort Liberty, the world's largest military base, contributing $8.1 billion to the local economy.
  • Situated on a retail corridor with over 212,000 square feet of retail space within a one-mile radius, including national retailers.
  • High visibility on NC Hwy 24-87 (41,000 vehicles per day), surrounded by a rapidly growing residential area with a 7.0% annual population growth over the past 13 years.
  • New construction; Popeyes is building to their latest prototype.

Property Details for 1517 Nc 24-87

Property type
Retail properties, Restaurants
Square Feet
1,990 SF
Class
A
Year Built
2024
Buildings
1
Stories
1
Lot Size (sq. ft)
49,223 SF

Location Insight

City
Cameron
County
Harnett
State
North Carolina
Latitude
35.2572999
Longitude
-79.0376031

FAQs

What type of property is this?
Retail property - High-Yield Popeyes Restaurant in NC
Where is the retail property located?
The property is located at 1517 Nc 24-87 Cameron, NC.
What is the asking price?
The asking price for this property is $2,714,000.
What are key features of this property?
This property features: New 15-year Absolute NNN lease with 8% rent increases every 5 years; no landlord responsibilities.; Popeyes, a major quick-service restaurant chain with over 4,100 locations globally, is the tenant.; Located approximately 12 miles from Fort Liberty, the world's largest military base, contributing $8.1 billion to the local economy.
How can I contact the broker?
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1517 Nc 24-87
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