1076 Andy Griffith PkwyMount Airy, NC 27030

Property Details for 1076 Andy Griffith Pkwy

Year built

2023

Lot size

0.83 AC

Property size (Sq ft)

2,100 SF

Zone code

B4

Property type

Drive through restaurants

APN

5021-13-23-1747

APU

502113231747

Description

This exceptional investment opportunity presents a brand-new, 2,233 square foot Taco Bell restaurant in Mount Airy, North Carolina. Situated on a 0.85-acre lot at 1076 N Andy Griffith Pkwy, 27030, this property boasts a 20-year triple-net (NNN) lease with four, five-year renewal options. The lease commenced upon closing and includes a 10% rent increase every five years, ensuring consistent income growth. The property, built in 2023, is currently 100% occupied and features a drive-thru lane. The experienced franchisee, operating over 200 restaurants across five states, ensures strong tenancy. The property's strong location is an outparcel to a Food Lion-anchored center, surrounded by numerous national retailers including Lowe's, Aldi, and many popular restaurants. The asking price is $1,652,175, offering a 5.75% cap rate and a net operating income (NOI) of $95,000. The Mount Airy area, part of a growing metro area of approximately 1.7 million people, benefits from a strong regional economy and diverse employment base, including major corporations in technology, biotechnology, and manufacturing. This is a rare opportunity to acquire a high-performing, long-term net lease investment in a prime location.

• CAP approach

  CAP return

  Valuation

  6%

  $338,680

  6.5%

  $312,628

  7%

  $290,297

• Comparable approach

  Method

  Valuation

  Relative Method

  $671,729

  Geo Method

  $896,147

• Alternative Use

  Use

  Valuation

  Residential

  $263,713

  Hospitality

  $241,560

  Educational

  $200,975

  Medical

  $207,887

  Retail

  $312,628

Location Insight

City

Mount Airy

County

Surry

State

North Carolina

Latitude

36.5245

Longitude

-80.6261

CBSA code

34340

CBSA name

MOUNT AIRY, NC MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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