Current Use by Public Records
- Popeyes Louisiana Kitchen / Restaurant
Property Details for 4818 Apex Hwy
- Year built
- 2023
- Property type
- Retail properties & Spaces
- Property subtype
- Restaurants
Description
This exceptional investment opportunity presents a newly constructed, 2,030 square foot Popeyes restaurant in Durham, North Carolina, situated on a 44,867 square foot lot. The property boasts a brand new 20-year absolute NNN lease with a prominent location on Apex Highway, experiencing over 38,000 vehicles daily, and close proximity to Interstate-40 (over 139,000 vehicles daily). The lease features a 5.60% cap rate and a substantial $185,000 net operating income (NOI). Rent increases are built in, with a 10% bump every five years, providing consistent growth throughout the primary term and four 5-year option periods, extending the lease to 2044. The property is 100% occupied and benefits from its strategic location near a Walmart Supercenter and other national retailers, including Food Lion, Taco Bell, Chick-fil-A, and many more. The surrounding area demonstrates strong demographics, with over 135,000 residents within a 5-mile radius and projected 8% population growth over the next five years. This fee-simple ownership offers a secure, long-term investment with zero landlord responsibilities, making it an ideal addition to any portfolio. The asking price is $3,303,571. The property is classified as Class A retail, built in 2023.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Durham
- County
- Durham
- State
- North Carolina
- Longitude
- -78.8968
- Latitude
- 35.9005
