For Sale
$3,916,667

807 3Rd StPembroke, NC 28372

High-ROI, NNN Lease, New Construction

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a brand-new, 3,200 square foot Slim Chickens restaurant in Pembroke, NC, built in 2023. Located on approximately 2 acres with ±18,000 vehicles per day, this property benefits from its proximity to the University of North Carolina at Pembroke, boasting over 8,300 students and a 22% enrollment increase in 2023. The property features a 20-year absolute NNN lease with a franchisee tenant, offering zero landlord responsibilities. The lease includes 5% rent bumps every 5 years, providing a strong hedge against inflation. The asking price is $3,916,667, yielding a 6.00% cap rate and a $235,000 annual net operating income (NOI). The lease has four 5-year renewal options, ensuring long-term income stability. This fee-simple ownership offers a compelling investment in a rapidly growing, university-centric market with a proven, established fast-food tenant. The Slim Chickens brand is expanding rapidly, with plans to add 500 more units in the next five years. This presents a rare opportunity to acquire a high-performing asset with significant long-term growth potential.

Highlights

  • Brand new construction with a 20-year NNN lease providing predictable income.
  • 5% rental increases every 5 years during the base term, hedging against inflation.
  • Absolute NNN lease; tenant pays all property taxes, insurance, and maintenance.
  • Investment in a rapidly expanding Slim Chickens franchise with significant growth plans.
  • Experienced franchisee, Break Bread Ventures, operating multiple locations with plans for substantial expansion in the region.
  • Strong location near UNC Pembroke, benefiting from high student population and significant traffic volume (approx. 18,000 VPD) on a ±2.00-acre site.

Property Details for 807 3Rd St

Property type
Retail properties
Square Feet
3,700 SF
Year Built
2023

Location Insight

City
Pembroke
County
Robeson
State
North Carolina
Latitude
34.6846932
Longitude
-79.2032914
807 3Rd St, Pembroke, North Carolina

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807 3Rd St
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