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Hardee's 105 N Mechanic St

3,336 SF Retail Building Franklin, VA 23851 $2,469,002 CAD ($740 CAD/SF) 6.15% Cap Rate

Retail Space Virginia Franklin 105 N Mechanic St, Franklin, VA 23851

Investment Highlights

  • Newly Extended 10-Year Absolute Triple Net (NNN) Lease
  • Recent 2023 Remodel of the Location | Tenant Covered All Costs Showing Strong Commitment
  • Five and a Half Percent (5.50%)of Annual Sales in Percentage Rent

Executive Summary

NNN Pro Group is pleased to present the exclusive listing for a Hardee’s located at 105 N Mechanic Street in Franklin, VA. The site consists of roughly 3,336 rentable square feet of building space on estimated 0.67-acre parcel of land. This absolute triple-net (NNN) lease was recently extended by 10 years in August 2023. The current annual rent is $80,000 and the landlord has received an average of $25,164 in additional percentage rent over the past three years. The tenant has 4, 5-year renewal options.

Property Facts

Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Fast Food
Building Size
3,336 SF
Building Class
C
Year Built
1985
Price
$2,469,002 CAD
Price Per SF
$740 CAD
Cap Rate
6.15%
NOI
$151,844 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.11
Lot Size
0.67 AC
Opportunity Zone
Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning
B2 - General Business
1 of 1
105 N Mechanic St, Franklin, VA - aerial map view

PROPERTY TAXES

Parcel Numbers
Multiple
  • 107-120-1
  • 2
 Improvements Assessment $962,257 CAD
Land Assessment $930,534 CAD Total Assessment $1,892,791 CAD

PROPERTY TAXES

Parcel Numbers
Multiple
  • 107-120-1
  • 2
Land Assessment
$930,534 CAD
Improvements Assessment
$962,257 CAD
Total Assessment
$1,892,791 CAD
(917) 697-3215

Contacts

  • Listing ID: 30272729

  • Date on Market: 2023-12-04

  • Last Updated:

  • Address: 105 N Mechanic St, Franklin, VA 23851

The Retail Property at 105 N Mechanic St, Franklin, VA 23851 is currently available for sale. Contact NNN Pro Group for more information.

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105 N Mechanic St, Franklin, VA for sale Building Photo- Image 1 of 3
pic 1 Hardee's
105 N Mechanic St, Franklin, VA for sale Aerial- Image 2 of 3
pic 2 Hardees

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Hardee's | 105 N Mechanic St
(917) 697-3215 x

Hardee's | 105 N Mechanic St

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Anthony Bird

(917) 697-3215

(917) 697-3215

Edward Otocka

(203) 253-9455

(203) 253-9455

Glen Kunofsky

(332) 345-4222

(332) 345-4222

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