517 3Rd StPembroke, NC 28372

Property Details for 517 3Rd St

Year built

2024

Lot size

0.86 AC

Property size (Sq ft)

2,600 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional investment opportunity presents a fee-simple ownership of a brand-new, 2,600 square foot Starbucks located at 517 W 3rd St, Pembroke, NC 28372. Built in 2024, this Class A property boasts a 10-year net lease with a corporate guarantee from Starbucks, a tenant with a BBB+ S&P credit rating. The lease features six five-year renewal options, with a 10% rental increase every five years. The property generates a strong net operating income (NOI) of $172,000, resulting in an attractive 6.15% cap rate. Situated on a high-traffic retail corridor (15,500 vehicles per day) and less than half a mile from UNC Pembroke (7,500+ students and 420+ faculty), this location benefits from exceptional visibility and a robust customer base. The 0.86-acre lot is surrounded by other national retailers, including Jersey Mike's, Circle K, Cook Out, McDonald's, and Burger King, further solidifying its prime retail position. The property's strong lease terms, corporate guarantee, and strategic location make it an ideal investment for discerning buyers seeking a stable, high-return asset. All warranties will be assigned to the new owner. The asking price is $2,797,000.

Location Insight

City

Pembroke

County

Robeson

State

North Carolina

Latitude

34.6831

Longitude

-79.1987

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