212 Washington St Wadesboro, NC 28170-2258
- Banks
- 3,367 SF
- 2.08 lot acres
May 05, 2024
Current Use by Public Records
- KFC / Chicken Restaurant / Fast Food Restaurant
Property Details for 212 Washington St
- Year built
- 1990
- Lot size
- 2.08 lot acres
- Property size
- 3,367 SF
- Property type
- Banks
- APN
- 6474-16-74-9896
- APU
- 647416749896
Description
Exceptional investment opportunity featuring a 3,284 square foot KFC restaurant located at 212 N Washington St, Wadesboro, NC 28170. This single-tenant, absolute NNN net lease boasts a strong 6.00% cap rate and a substantial $161,000 annual NOI. The property sits on a 2.078-acre lot, enjoying high visibility and accessibility on US-52 and US-74, with impressive daily traffic counts of 32,364 vehicles. The lease with FQSR, LLC (the largest KFC franchisee in the US) extends to July 30, 2044, offering a secure, long-term investment. The lease includes 7% rent bumps every five years and two five-year renewal options. The restaurant, built in 2018, has consistently performed above average, exhibiting an 8.22% rent-to-sales ratio and is slated for a remodel by the end of 2028, demonstrating the tenant's commitment to the location. The surrounding area offers strong demographics, with a population of 9,260 within a five-mile radius and an average household income of $60,044 within one mile. This property presents a rare opportunity to acquire a well-established, high-performing KFC location in a desirable market. The asking price is $2,683,000. The property is zoned C and includes fee simple ownership of both the building and land.
Value Estimations
-
AI approach
- Method
- Estimation
- ML approach
- $365,000
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Location Insight
- Map
- Local Demand
- City
- Wadesboro
- County
- Anson
- State
- North Carolina
- Longitude
- -80.0749
- Latitude
- 34.9676
- CBSA code
- 16740
- CBSA name
- CHARLOTTE-CONCORD-GASTONIA, NC-SC METROPOLITAN STATISTICAL AREA
