8304 Kenbrooke DrCharlotte, NC 28262

Property Details for 8304 Kenbrooke Dr

Year built

2005

Lot size

0.47 AC

Property size (Sq ft)

6,560 SF

Zone code

MUDD-O

Property type

Retail properties

Property subtype

Turn key restaurants

APN

4713184

APU

4713184

Description

This exceptional investment opportunity presents the fee simple ownership of a Red Robin restaurant in Charlotte, NC. The property boasts a 6,378 square foot building on a 0.47-acre lot, constructed in 2005 and situated at 8304 Kenbrooke Dr, Charlotte, NC 28262. The property is zoned MUDD-O and includes 8 parking spaces. The absolute NNN lease with Red Robin, a nationally recognized brand, has a remaining term of 13.6 years, extending to June 30, 2038, with four 5-year renewal options. The lease features a 10% rent increase every five years, providing built-in protection against inflation and consistent NOI growth. The current annual NOI is $200,000, representing a 6.50% cap rate on the $3,077,000 asking price. The property benefits from its strategic location along State Highway 24, with proximity to Interstate 85 and US Highway 29, ensuring high visibility and accessibility. The area boasts strong demographics, including a dense retail corridor with nearby national tenants like Sam's Club, Walmart, and numerous apartment complexes, creating a robust customer base. The property's adjacency to the Wells Fargo CIC campus and the University of North Carolina Charlotte campus further enhances its appeal. This is a truly passive investment opportunity with a well-established tenant and significant long-term growth potential.

• CAP approach

  CAP return

  Valuation

  6%

  $2,324,743

  6.5%

  $2,145,917

  7%

  $1,992,637

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,799,394

  Geo Method

  $2,799,394

• Alternative Use

  Use

  Valuation

  Residential

  $1,810,161

  Hospitality

  $1,658,098

  Educational

  $1,379,518

  Medical

  $1,426,962

  Retail

  $2,145,917

Location Insight

City

Charlotte

County

Mecklenburg

State

North Carolina

Latitude

35.3168

Longitude

-80.7717

CBSA code

16740

CBSA name

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

Property Tax & Assessments

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