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Cracker Barrel 1948 Rockford St

10,100 SF Retail Building Mount Airy, NC 27030 $3,827,169 CAD ($379 CAD/SF) 5.50% Cap Rate

Investment Highlights

  • OUTSTANDING CORRIDOR - Outparcel to Lowe's & Food Lion, next door to McDonald's to the north and Cook Out to the south and AutoZone across the street
  • GREAT VALUE - Market rent of $20 per Duck Donuts & UPS rental rates and subject site is 25%below market rents at less than $15 PSF rent and 1.63 acres
  • CORPORATE TENANT - NYSE: CBRL publicly-traded tenant based in Lebanon, TN in operation since 1969 with 658 stores iin 44 states, $3.47 B Revenue
  • NONSTOP AIRPORTS - 56 minutes northwest of Piedmont Triad International Airport in Greensboro, NC, 1 hour 35 minutes north of Charlotte Douglas

Executive Summary

Franklin Street is pleased to present this single-tenant corporate national leading-brand famiily restaurant property located in the Winston-Salem MSA 37 miles northwest of the Central Business district and 104 miles north of the Charlotte Douglas International Airport. The Cracker Barrel has a solid following as an outparcel to Lowe's and Food Lion, the 133-bed Northern Regional Hospital across the intersection to the north, next door to McDonald's to the north, Cook Out to the south and AutoZone across the street to the west. Cracker Barrel is the preferred sit-down breakfast option in the market with the only other one being the Wa?e House 0.7 miles to the south. The property is situated less than a mile north of the Surry Community College with 3,900 students. The subject property is also on the primary commuter road Highway 52 going to and from Winston-Salem and just north of interstate 74. According to the most recent 2024 SEC audited 10K annual report, Cracker Barrel had total revenue of $3.470 billiion and net income of $40.930 million. As of 2024, Cracker Barrel operates over 685 locations in 44 states and 68 Maple Street Biscuit Company stores in 10 states with over 77,600 employees, and average store revenue volumes for 2024 at$5,157,300 with $4,133,000 in restaurant revenue and $1,024,300 in retail revenue. Twenty-five to thirty stores will be fully remodeled and 25-30 stores will be refreshed in 2025 per the Annual Report.

Property Facts

Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
10,100 SF
Building Class
B
Year Built
2015
Price
$3,827,169 CAD
Price Per SF
$379 CAD
Cap Rate
5.50%
NOI
$210,494 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.14
Lot Size
1.63 AC
Opportunity Zone
Yes
Zoning
M1
Parking
131 Spaces (10 Spaces per 1,000 SF Leased)
Frontage
260 ft on Rockford Street

MAJOR TENANTS Click Here to Access

  • Tenant
  • Industry
  • SF OCCUPIED
  • RENT/SF
  • Lease Type
  • Lease End
  • Accommodation and Food Services
  • -
  • $9.99
  • Lorem Ipsum
  • Jan 0000

Cracker Barrel Old Country Store, Inc. provides a friendly home-away-from-home in its old country stores and restaurants. Guests are cared for like family while relaxing and enjoying real home-style food and shopping that’s surprisingly unique, genuinely fun and reminiscent of America’s country heritage…all at a fair price. The restaurant serves up delicious, home-style country food such as meatloaf and homemade chicken n’ dumplins as well as its signature biscuits using an old family recipe. The authentic old country retail store is fun to shop and offers unique gifts and self-indulgences.

Tenant Industry SF OCCUPIED RENT/SF Lease Type Lease End
Accommodation and Food Services - $9.99 Lorem Ipsum Jan 0000

Nearby Major Retailers

Chili's Grill & Bar
Starbucks
Cook Out
First Bank and Trust Company
ALDI
Food Lion
East Coast Wings & Grill
Rent-A-Center
Hwy 55 Burgers Shakes & Fries
Golden Corral

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
5929-07-58-1844
Land Assessment
$487,505 CAD
Improvements Assessment
$741,299 CAD
Total Assessment
$1,228,804 CAD
  • Listing ID: 33662106

  • Date on Market: 2024-10-28

  • Last Updated:

  • Address: 1948 Rockford St, Mount Airy, NC 27030

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