For Sale
$2,971,429

1001 Aspinal StWaxhaw, NC 28173

High-return QSR in prime location.

Overview

Added:
Dec 11, 2024
Days on market:
117
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
1001 Aspinal St, Waxhaw, North Carolina

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1001 Aspinal St
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