1517 Nc 24-87Cameron, NC 28326

Property Details for 1517 Nc 24-87

Year built

2024

Lot size

1.13 AC

Property size (Sq ft)

1,990 SF

Property type

Retail properties

Property subtype

Restaurants

Description

This exceptional investment opportunity presents a brand-new, 1,990 square foot Popeyes restaurant in Cameron, North Carolina. Built in 2024, this Class A property boasts a 15-year absolute triple-net (NNN) lease with a franchisee tenant, ensuring minimal landlord responsibilities. The lease includes attractive 8% rent increases every five years, providing significant long-term growth potential. Located on a highly visible 1.13-acre lot fronting NC Hwy 24-87 (41,000 vehicles per day), the property benefits from its strategic position within a rapidly growing area, experiencing a 7% annual population growth over the past 13 years. The surrounding area features over 212,000 square feet of retail space within a one-mile radius, including national brands like McDonald's, Food Lion, and Wendy's. The property's proximity to Fort Liberty, the world's largest military base, further enhances its value and stability. With a current NOI of $162,864 and an asking price of $2,714,000, this investment offers a compelling 6% cap rate. The lease includes three 5-year renewal options, providing additional long-term security. This is a fee-simple ownership opportunity with no ground lease. The property's strong tenant, favorable lease terms, and prime location make it an ideal addition to any investment portfolio.

Location Insight

City

Cameron

County

Harnett

State

North Carolina

Latitude

35.2573

Longitude

-79.0376

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