Popeyes | New 20-Yr Absolute NNN 1207 Dabney Dr
2,040 SF Retail Building Henderson, NC 27536 $2,608,695 ($1,279/SF) 5.75% Cap Rate
INVESTMENT HIGHLIGHTS
- 20-Year Absolute NNN Lease w/ 10% Increases Every 5-Years
- Outparcel to Food Lion Grocery Anchored Shopping Center
- Dense Retail Trade Area with Excellent Access & Visibility
- Established Historical Occupancy Since 2020 (Strong Store Sales)
- Traffic Counts Exceed 29,000 Vehicles Per Day
- Signalized Intersection, Hard Corner Location
EXECUTIVE SUMMARY
The subject property is a newly constructed Popeyes drive-thru located in Henderson (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 Food Lion grocery anchored shopping center. The site benefits from its excellent visibility and access along Dabney Drive, which boasts over 29,000 vehicles per day.
National retailers in the immediate vicinity include Petco, Tractor Supply, ALDI, Lowe’s, Walgreens, Chick-Fil-A, Taco Bell, Starbucks, Wendy’s, Bojangles, McDonald’s, Walmart, Marshalls, GameStop, Dollar Tree, KFC, Food Lion, Harbor Freight, Planet Fitness 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 Petco, Tractor Supply, ALDI, Lowe’s, Walgreens, Chick-Fil-A, Taco Bell, Starbucks, Wendy’s, Bojangles, McDonald’s, Walmart, Marshalls, GameStop, Dollar Tree, KFC, Food Lion, Harbor Freight, Planet Fitness 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
2,040 SF
Building Class
B
Year Built
2020
Price
$2,608,695
Price Per SF
$1,279
Cap Rate
5.75%
NOI
$150,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.07
Lot Size
0.66 AC
Frontage
95 FT on Dabney Dr
AMENITIES
- Pylon Sign
- Signage
- Drive Thru
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 0013 03056 | Improvements Assessment | $858,578 |
| Land Assessment | $283,820 | Total Assessment | $1,142,398 |
