1702 Raleigh Road Pky W Wilson , NC 27896

Property Details for 1702 Raleigh Road Pky W

Year built

1993

Lot size

0.88 lot acres

Property size

4,200 SF

Property type

Commercial real estate

APN

3712-14-5676.000

APU

3712145676000

Description

This exceptional investment opportunity presents a newly constructed, 4,200 square foot Popeyes restaurant situated on a 38,333 square foot lot in Wilson, North Carolina. Boasting a prime location at a signalized intersection with over 60,000 vehicles daily, this property benefits from its proximity to a Walmart Supercenter and a dense retail corridor including national brands such as McDonald's, Hobby Lobby, Starbucks, and many more. The property features a 20-year absolute NNN lease with a strong tenant, Popeyes, ensuring minimal landlord responsibilities. The lease includes 10% rent increases every five years, providing consistent growth potential. With a current NOI of $165,000 and a 5.75% cap rate, this Class A property offers a stable, long-term investment with a fee simple ownership structure. The lease term extends to October 31, 2044, and includes four 5-year renewal options. Built in 2022, the property has maintained 100% occupancy since its opening, demonstrating strong performance and above-average sales. This is an ideal opportunity for investors seeking a low-maintenance, high-return investment with significant long-term growth prospects.