1533 Freeway DrReidsville, NC 27320

Property Details for 1533 Freeway Dr

Year built

1997

Lot size

0.73 AC

Property size (Sq ft)

3,284 SF

Zone code

HWY BUS RD COND USE

Property type

Retail properties

Property subtype

Drive through restaurants

APN

7994-15-52-6849-00

APU

79941552684900

Description

This exceptional investment opportunity presents a sale-leaseback of a Wendy's restaurant located at 1533 Freeway Dr., Reidsville, NC 27320. The property, built in 1997 and renovated in 2017, boasts a 15-year NNN lease commencing December 1, 2024, and expiring November 30, 2039, with four 5-year renewal options. The lease is with a top-performing Wendy's franchisee with a proven track record and extensive experience operating multiple locations across the US East Coast. The property enjoys a strategic location on State Road 29, providing excellent visibility and accessibility. Its proximity to Lowe's Foods, a major grocery anchor, further enhances its appeal. The strong sales performance consistently exceeds market averages, contributing to a substantial net operating income (NOI) of $155,375 and a compelling 5.65% cap rate. The asking price is $2,750,000. This single-unit property offers a passive income stream with minimal landlord responsibilities, making it an attractive addition to any investment portfolio. This is one of six Wendy's locations available for sale, each offered separately. The franchisee has operated since 1988 and currently manages over 25 Wendy's restaurants across Virginia and North Carolina.

• CAP approach

  CAP return

  Valuation

  6%

  $529,631

  6.5%

  $488,890

  7%

  $453,970

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,050,456

  Geo Method

  $1,899,600

• Alternative Use

  Use

  Valuation

  Residential

  $412,397

  Hospitality

  $377,754

  Educational

  $314,287

  Medical

  $325,095

  Retail

  $488,890

Location Insight

City

Reidsville

County

Rockingham

State

North Carolina

Latitude

36.3386

Longitude

-79.6937

CBSA code

24660

CBSA name

GREENSBORO-HIGH POINT, NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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