2121 Roosevelt BlvdMonroe, NC 28110

Property Details for 2121 Roosevelt Blvd

Year built

2022

Lot size

0.54 AC

Property size (Sq ft)

2,700 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional investment opportunity presents a 2,700-square-foot Habit Burger Grill situated on a 0.54-acre lot in Monroe, North Carolina. Built in 2022, this property boasts a prime location as an outparcel to the 395,000-square-foot Monroe Crossing Mall, a thriving retail center with national tenants like Belk, Best Buy, and others. The Habit Burger Grill benefits from excellent visibility and accessibility along West Roosevelt Boulevard, a major thoroughfare with high daily traffic volume. The property includes 29 parking spaces and a drive-thru, aligning with Habit Burger's latest prototype design. The absolute NNN lease features a 15-year term commencing March 1, 2023, with a remaining term of approximately 13.3 years. The lease includes three 5-year renewal options, each with a 10% rent increase, providing significant long-term value. The current annual net operating income (NOI) is $132,300, representing a 5.85% cap rate on the asking price of $2,261,540 ($837.61 per square foot). This location is one of only six Habit Burger Grills in North Carolina, serving a large market area with limited competition. The property's strong tenant, favorable lease terms, and strategic location make it an attractive investment opportunity with substantial growth potential. The Monroe Crossing Mall, to which this property is an outparcel, has seen over 335,000 visitors and 2.4 million visits in the past year.

Location Insight

City

Monroe

County

Union

State

North Carolina

Latitude

35.0065

Longitude

-80.5598

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