231 Madison BlvdRoxboro, NC 27573

Property Details for 231 Madison Blvd

Year built

1989

Lot size

1.14 AC

Property size (Sq ft)

3,230 SF

Property type

Retail properties

Property subtype

Drive through restaurants

APN

30 1

APU

301

Description

This exceptional investment opportunity presents a 3,230 square foot Burger King restaurant located at 231 S Madison Blvd, Roxboro, NC 27573. The property sits on a 1.14-acre lot with 42 parking spaces and benefits from a high-traffic location with approximately 47,200 vehicles per day. The property is currently operating under a 20-year Absolute NNN lease with 12 years remaining, commencing October 16, 2016, and expiring October 29, 2036. The lease includes four, 5-year renewal options with 1.50% annual rent increases. The current annual net operating income (NOI) is $191,448, resulting in a 6.25% cap rate at the asking price of $3,063,000. The tenant is a franchisee of a 200+ unit operator, providing strong financial backing and operational stability. The property was remodeled in 2015 to Burger King's 20/20 prototype, demonstrating the tenant's long-term commitment. This is a passive investment with zero landlord responsibilities. The property's proximity to Person High School (1,100+ students) and Person Memorial Hospital (98 beds) further enhances its value and potential for long-term growth. The blended cap rate over the remaining base term is 6.80%, assuming purchase at the list price. This is a 1031 exchange eligible property.

• CAP approach

  CAP return

  Valuation

  6%

  $709,725

  6.5%

  $655,130

  7%

  $608,336

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,868,364

  Geo Method

  $1,868,364

• Alternative Use

  Use

  Valuation

  Residential

  $552,627

  Hospitality

  $506,203

  Educational

  $421,155

  Medical

  $435,640

  Retail

  $655,130

Location Insight

City

Roxboro

County

Person

State

North Carolina

Latitude

36.3925

Longitude

-78.9889

CBSA code

20500

CBSA name

DURHAM-CHAPEL HILL, NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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