12890 Booker T Washington HwyHardy, VA 24101
- Retail properties
- 3,418 SF
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
- Retail properties
- Property subtype
- 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.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
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
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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