348 Whiteville RdShallotte, NC 28470

Property Details for 348 Whiteville Rd

Year built

2008

Lot size

2.18 AC

Property size (Sq ft)

4,200 SF

Property type

Retail properties

Property subtype

Drive through restaurants

APN

1970005014

APU

1970005014

Description

This exceptional investment opportunity presents a single-tenant, absolute NNN leased KFC restaurant located at 348 Whiteville Rd NW, Shallotte, NC 28470. The property boasts a 4,006 square foot building situated on a substantial 2.183-acre lot, offering excellent visibility and accessibility. The current lease with FQSR, LLC, the largest KFC franchisee in the U.S., extends until July 30, 2044, with two five-year renewal options. This represents a secure, long-term investment with a 6.00% cap rate and a current NOI of $139,000. The lease includes a 7% rent increase every five years, ensuring consistent growth in rental income. Built in 2020, the property benefits from its prime location across from Lowe's Home Improvement and near numerous other major retailers, including Walmart, Hobby Lobby, and Home Depot. The area demonstrates strong demographics, with a high average household income within a one-mile radius. The property is zoned C and enjoys high traffic counts of 12,918 cars per day on Whiteville Rd NW. The tenant, a highly successful operator with over 832 locations, anticipates exceeding $1.1 billion in sales in 2024. A planned remodel in 2030 further underscores the tenant's commitment to this location. This is a rare opportunity to acquire a well-performing, established asset in a thriving retail corridor.

Location Insight

City

Shallotte

County

Brunswick

State

North Carolina

Latitude

33.9732

Longitude

-78.4009

CBSA code

34820

CBSA name

MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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