327 Caswell StWadesboro, NC 28170

Property Details for 327 Caswell St

Lot size

1.18 AC

Property size (Sq ft)

2,017 SF

Property type

Retail space

Property subtype

Storefront properties

APN

6474-12-85-5468

APU

647412855468

Description

This exceptional investment opportunity presents a fee-simple, Class A, 1,930 square-foot Popeyes restaurant located at 327 E Caswell St, Wadesboro, NC 28170. Built in 2020, this single-story building boasts a drive-thru and enjoys 100% occupancy under a 20-year net lease (with four 5-year options) commencing January 1, 2021, and expiring December 31, 2040. The lease features attractive 1.5% annual rent bumps, providing a hedge against inflation. The property generates a substantial net operating income (NOI) of $120,253, resulting in a compelling 6.00% cap rate. Positioned on Wadesboro's main commercial corridor, this strategically located property benefits from high visibility and accessibility to Highway 74, experiencing traffic counts exceeding 27,500 vehicles per day. The property is surrounded by national retailers including Wendy's, Truist, Arby's, AutoZone, BP, Food Lion, and Tractor Supply Company, ensuring a robust customer base. This prime location is situated between the Charlotte MSA and the beaches, benefiting from strong sales and a convenient location within a thriving community. The asking price is $2,004,000, translating to $1,038.34 per square foot. This is an absolute NNN lease, meaning zero landlord responsibilities. The tenant is a strong multi-unit operator, providing further security and stability for this investment. The property's location in Wadesboro, NC, nicknamed "The Heart of the Carolinas," offers easy access from both North and South Carolina, approximately one hour east of Charlotte.

Location Insight

City

Wadesboro

County

Anson

State

North Carolina

Latitude

34.9692

Longitude

-80.073

CBSA code

16740

CBSA name

CHARLOTTE-CONCORD-GASTONIA, NC-SC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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