520 2Nd St Lumberton, NC 28358

Property Details for 520 2Nd St

Year built

2020

Lot size

1.58 lot acres

Property size

3,521 SF

Property type

Retail properties

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.