For Sale
$2,971,429

1001 Aspinal St Waxhaw, NC 28173

High-return QSR in prime location.

Property Records

Overview

Added:
Dec 11, 2024
Days on market:
138
This exceptional investment opportunity presents a 2,400-square-foot Arby's restaurant located at 1001 Aspinal St, Waxhaw, NC 28173, within the Charlotte MSA. Built in 2021, the property sits on a 1.18-acre lot and boasts a strong 5.25% cap rate with a current NOI of $156,000. The property is subject to a 20-year NNN lease with 16.5 years remaining, commencing June 1, 2021, and expiring May 31, 2041. Rent increases by 5% every five years, providing consistent income growth. The lease includes four, five-year renewal options. This single-tenant property benefits from a drive-thru lane and excellent accessibility, situated in a dense retail corridor with national tenants and high-density, high-growth demographics, boasting a median household income of approximately $111,000. The property is an outparcel to the Prescot Village development and is part of a larger Waxhaw development with 29 projects planned for 2024. The asking price is $2,971,429, representing a price per square foot of $1,238.10. This is a rare opportunity to acquire a well-performing, long-term NNN leased property with a strong tenant and significant upside potential.

Highlights

  • Absolute NNN lease with 17 years remaining, 5% annual rent increases.
  • Strong franchise guarantee from an experienced operator.
  • New construction completed in 2021.
  • Excellent accessibility with approximately 23,000 vehicles per day and a drive-thru lane.
  • Located in a dense retail corridor with national tenants.
  • High-density area with strong demographics and a median household income of approximately $111,000.

Property Details for 1001 Aspinal St

Property type
Retail properties
Square Feet
2,400 SF
Year Built
2021
Lot Size (sq. ft)
51,401 SF

Location Insight

City
Waxhaw
County
Union
State
North Carolina
Latitude
34.9505044
Longitude
-80.7560859

FAQs

What type of property is this?
Retail property - High-return QSR in prime location.
Where is the retail property located?
The property is located at 1001 Aspinal St Waxhaw, NC.
What is the asking price?
The asking price for this property is $2,971,429.
What are key features of this property?
This property features: Absolute NNN lease with 17 years remaining, 5% annual rent increases.; Strong franchise guarantee from an experienced operator.; New construction completed in 2021.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
1001 Aspinal St
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message