807 3Rd StPembroke, NC 28372

Property Details for 807 3Rd St

Year built

2023

Property size (Sq ft)

3,700 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

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.

Location Insight

City

Pembroke

County

Robeson

State

North Carolina

Latitude

34.6847

Longitude

-79.2033

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