For Sale
$2,000,000

520 2Nd StLumberton, NC 28358

High-yield KFC, 20-year lease.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a fee-simple ownership of a 3,521 square foot KFC restaurant in Lumberton, North Carolina. The property boasts a brand-new, 20-year absolute NNN lease with FQSR, LLC, the largest KFC franchisee in the U.S., featuring a 7% rent increase every five years and two five-year renewal options, extending the lease to 2044. The tenant, operating since 2007, demonstrates a strong commitment with an 8.72% rent-to-sales ratio and plans for a remodel by the end of 2030. Situated on a 1.576-acre lot, this location benefits from excellent visibility and accessibility on W 2nd St, with a daily traffic count of 13,968 vehicles. The property's strong performance is further supported by robust demographics, including a total population of 30,677 within a five-mile radius and an average household income of $78,482 within one mile. The current Net Operating Income (NOI) is $123,000, resulting in a 6.15% cap rate. This single-tenant, single-story building, constructed in 2020, is zoned C and offers a secure, passive income stream for investors. The property is located in a thriving retail corridor with numerous national retailers nearby. This is a rare opportunity to acquire a high-performing, long-term net lease investment with a well-established tenant in a prime location.

Highlights

  • Brand new 20-year absolute NNN lease with 7% rent increases every 5 years.
  • Leased to FQSR, LLC, the largest KFC franchisee in the US, operating over 832 locations and projecting over $1.1 billion in sales in 2024.
  • Successfully operating since 2007, with an 8.72% rent-to-sales ratio and a planned remodel by year-end 2030.
  • Located on a 1.576-acre lot with high visibility on W 5th St & NC-72, with 13,968 cars per day traffic counts.
  • Strong demographics: 30,677 total population within 5 miles and $78,482 average household income within 1 mile.

Property Details for 520 2Nd St

Property type
Retail properties, Restaurants
Square Feet
3,521 SF
Year Built
2020
Buildings
1
Stories
1
Lot Size (sq. ft)
68,651 SF
Units
1

Location Insight

City
Lumberton
County
Robeson
State
North Carolina
Latitude
34.619918409014
Longitude
-79.015742717122
520 2Nd St, Lumberton, North Carolina

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520 2Nd St
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