Popeyes | New 20-Yr Absolute NNN | 1702 Raleigh Road Pky W
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Popeyes | New 20-Yr Absolute NNN 1702 Raleigh Road Pky W
4,200 SF Retail Building Wilson, NC 27896 $4,150,826 CAD ($988 CAD/SF) 5.75% Cap Rate
INVESTMENT HIGHLIGHTS
- 20-Year Absolute NNN Lease w/ 10% Increases Every 5-Years
- Located Across from Entrance to Walmart Supercenter
- Dense Retail Trade Area with Excellent Access & Visibility
- Historical Occupancy Since 2022 (Above Average Store Sales)
- Traffic Counts Exceed 32,000 Vehicles Per Day on Raleigh Road
- Located between Two Signalized Intersections with Traffic Counts Exceeding 60,000 Vehicles Per Day
EXECUTIVE SUMMARY
The subject property is a newly constructed Popeyes drive-thru located in Wilson (Outside Raleigh), North Carolina. The brand new 20-year absolute NNN lease includes 10% rent increases in the primary term and throughout the (4) 5-year option periods. The property is strategically located at a signalized intersection at the entrance to a Walmart Supercenter. The site benefits from its excellent access at the signalized intersection of Raleigh Road and Forest Hills Road, which boasts over 60,000 vehicles per day.
National retailers in the immediate vicinity include McDonald’s, Hobby Lobby, Starbucks, AT&T, Aspen Dental, Planet Fitness, Best Buy, PetSmart, Five Below, Ross, Belk, Burger King, Scooter’s, Marshalls, CVS Pharmacy, Olive Garden, Firestone, Panera Bread, Target, AutoZone, Verizon, Wendy’s, Chili’s, Wells Fargo, Lowe’s, Valvoline, Discount Tire, Chick-Fil-A, Sonic, Hardee’s, Arby’s, Goodwill, O’Reilly Auto, Dollar General, Tractor Supply Company, Walmart, Staples, Jersey Mikes, ALDI, Chipotle and many more. This is an excellent opportunity for an investor to purchase a stable, long term investment with zero landlord responsibility.
National retailers in the immediate vicinity include McDonald’s, Hobby Lobby, Starbucks, AT&T, Aspen Dental, Planet Fitness, Best Buy, PetSmart, Five Below, Ross, Belk, Burger King, Scooter’s, Marshalls, CVS Pharmacy, Olive Garden, Firestone, Panera Bread, Target, AutoZone, Verizon, Wendy’s, Chili’s, Wells Fargo, Lowe’s, Valvoline, Discount Tire, Chick-Fil-A, Sonic, Hardee’s, Arby’s, Goodwill, O’Reilly Auto, Dollar General, Tractor Supply Company, Walmart, Staples, Jersey Mikes, ALDI, Chipotle and many more. This is an excellent opportunity for an investor to purchase a stable, long term investment with zero landlord responsibility.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
4,200 SF
Building Class
B
Year Built
2022
Price
$4,150,826 CAD
Price Per SF
$988 CAD
Cap Rate
5.75%
NOI
$238,672 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.11
Lot Size
0.88 AC
AMENITIES
- Drive Thru
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 3712-14-5676.000 | Improvements Assessment | $450,430 CAD |
| Land Assessment | $815,510 CAD | Total Assessment | $1,265,940 CAD |
PROPERTY TAXES
Parcel Number
3712-14-5676.000
Land Assessment
$815,510 CAD
Improvements Assessment
$450,430 CAD
Total Assessment
$1,265,940 CAD
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Popeyes | New 20-Yr Absolute NNN | 1702 Raleigh Road Pky W
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