12890 Booker T Washington HwyHardy, VA 24101

Property Details for 12890 Booker T Washington Hwy

Year built

2004

Lot size

1.03 AC

Property size (Sq ft)

3,418 SF

Zone code

PCD

Property type

Drive through restaurants

APN

030 00-052 06

APU

300005206

Description

This exceptional investment opportunity presents a sale-leaseback of a Wendy's restaurant located at 12890 Booker T Washington Hwy, Hardy, VA 24101. The property, built in 2004 and renovated in 2017, boasts 2,677 square feet on a 1.03-acre lot. A 15-year NNN lease commences December 1, 2024, and expires November 30, 2039, with rental increases every five years. The current asking price is $2,450,000, representing a price per square foot of $915.20 and a 5.65% cap rate. The property generates a Net Operating Income (NOI) of $138,425. This Wendy's is operated by a highly successful franchisee with a proven track record, owning over 25 locations across Virginia and North Carolina. The location benefits from high visibility and accessibility, situated near major roadways, businesses, and schools, including Walmart, Lowe's, McDonald's, and Bojangles. This is one of six Wendy's locations available for sale, each offered individually. The lease features no landlord responsibilities and demonstrates above-average, growing revenue with a rent-to-sales ratio of 7%. This represents a strong, stable investment with significant long-term potential.

• CAP approach

  CAP return

  Valuation

  6%

  $551,242

  6.5%

  $508,839

  7%

  $472,493

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,093,319

  Geo Method

  $1,977,111

• Alternative Use

  Use

  Valuation

  Residential

  $429,225

  Hospitality

  $393,168

  Educational

  $327,111

  Medical

  $338,361

  Retail

  $508,839

Location Insight

City

Hardy

County

Franklin

State

Virginia

Latitude

37.1196

Longitude

-79.7204

CBSA code

40220

CBSA name

ROANOKE, VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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