Current Use by Public Records
- KFC / Restaurant
Property Details for 520 2Nd St
- Year built
- 2020
- Lot size
- 1.58 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Restaurants
Description
This exceptional investment opportunity presents a fee-simple ownership of a 3,521 square foot KFC restaurant in Lumberton, North Carolina. The property boasts a brand-new, 20-year absolute NNN lease with FQSR, LLC, the largest KFC franchisee in the U.S., featuring a 7% rent increase every five years and two five-year renewal options, extending the lease to 2044. The tenant, operating since 2007, demonstrates a strong commitment with an 8.72% rent-to-sales ratio and plans for a remodel by the end of 2030. Situated on a 1.576-acre lot, this location benefits from excellent visibility and accessibility on W 2nd St, with a daily traffic count of 13,968 vehicles. The property's strong performance is further supported by robust demographics, including a total population of 30,677 within a five-mile radius and an average household income of $78,482 within one mile. The current Net Operating Income (NOI) is $123,000, resulting in a 6.15% cap rate. This single-tenant, single-story building, constructed in 2020, is zoned C and offers a secure, passive income stream for investors. The property is located in a thriving retail corridor with numerous national retailers nearby. This is a rare opportunity to acquire a high-performing, long-term net lease investment with a well-established tenant in a prime location.
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
- Lumberton
- County
- Robeson
- State
- North Carolina
- Longitude
- -79.0157
- Latitude
- 34.6199
