12890 Booker T Washington HwyHardy, VA 24101

  • Retail properties
  • 3,418 SF
For Sale
$2,450,000 View listing

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
12890 Booker T Washington Hwy, Hardy, Virginia

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

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
0
-
$358,200
$644,200
$1,002,400
-
$358,200
$644,200
$1,002,400

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