Current Use by Public Records
- Retail properties & Spaces
Property Details for 517 3Rd St
- Year built
- 2024
- Lot size
- 0.86 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Restaurants
Description
This exceptional investment opportunity presents a fee-simple ownership of a brand-new, 2,600 square foot Starbucks located at 517 W 3rd St, Pembroke, NC 28372. Built in 2024, this Class A property boasts a 10-year net lease with a corporate guarantee from Starbucks, a tenant with a BBB+ S&P credit rating. The lease features six five-year renewal options, with a 10% rental increase every five years. The property generates a strong net operating income (NOI) of $172,000, resulting in an attractive 6.15% cap rate. Situated on a high-traffic retail corridor (15,500 vehicles per day) and less than half a mile from UNC Pembroke (7,500+ students and 420+ faculty), this location benefits from exceptional visibility and a robust customer base. The 0.86-acre lot is surrounded by other national retailers, including Jersey Mike's, Circle K, Cook Out, McDonald's, and Burger King, further solidifying its prime retail position. The property's strong lease terms, corporate guarantee, and strategic location make it an ideal investment for discerning buyers seeking a stable, high-return asset. All warranties will be assigned to the new owner. The asking price is $2,797,000.
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
- Pembroke
- County
- Robeson
- State
- North Carolina
- Longitude
- -79.1987
- Latitude
- 34.6831
