Property Details for 7377 Nc-73

Year built

2023

Lot size

1.39 lot acres

Property size

3,550 SF

Property type

Retail properties & Spaces

Description

This exceptional investment opportunity presents a brand-new, 3,550-square-foot Panera Bread restaurant located at 7377 NC-73, Denver, NC 28037. Built in 2023, this Class A property sits on a 1.39-acre lot and boasts 30 parking spaces. The property features a highly desirable absolute NNN lease with Panera Bread, LLC, a corporate guarantee, and a remaining lease term of approximately 14.6 years, expiring June 30, 2039. The lease commenced August 28, 2023, and includes 10% rent bumps every five years, providing significant long-term growth potential. The current asking price is $3,450,000, representing a 5.25% cap rate with a Net Operating Income (NOI) of $181,050. The property benefits from excellent visibility on NC Hwy 73, experiencing 29,500 vehicles per day. It's situated within a thriving retail corridor, boasting over 1 million square feet of retail space within a one-mile radius. The area demonstrates substantial population growth (48.75% increase from 2010-2023) and a high average household income of $145,558 within a five-mile radius. Nearby amenities include major retailers like Walmart, Lowe's, and Publix, as well as significant healthcare facilities (Novant Health Huntersville Medical Center) and educational institutions (Davidson College, East Lincoln High School). The property is also conveniently located approximately 25 minutes from Charlotte Douglas International Airport. Lease options of 3 and 5 years are available. This is a rare opportunity to acquire a strong-performing, passively managed investment with a blue-chip tenant in a high-growth market.

Location Insight

City

Denver

County

Lincoln

State

North Carolina

Longitude

-80.9984

Latitude

35.4478