910 Wendover Rd Charlotte, NC 28211

Property Details for 910 Wendover Rd

Year built

2023

Lot size

1.10 lot acres

Property size

4,504 SF

Property type

Retail properties

Property subtype

Restaurants

Description

This exceptional investment opportunity presents a fee-simple ownership of a newly constructed (2023), 4,504 square foot Chick-fil-A restaurant in Charlotte, NC. Located at 910 N Wendover Rd, this Class A property boasts a 15-year ground lease with a corporate guarantee from Chick-fil-A, providing significant security and long-term income potential. The lease commenced December 31, 2023, and includes 8 five-year renewal options, with rent bumps of 10% every five years during the initial term and 8% increases in each option period. The property sits on a 1.1-acre lot and features a double-drive-thru design, a key element in maximizing efficiency and sales. The strong demographics of the area are undeniable, with an average household income exceeding $110,000 within a one-mile radius and over 10,000 residents in close proximity. The location is part of a recently renovated, grocery-anchored shopping center on a major thoroughfare, surrounded by other national retailers including The Home Depot, McDonald's, and 7-Eleven. Charlotte's robust economic growth, projected at 8.16% over five years, further enhances the investment's appeal. The current Net Operating Income (NOI) is $115,000, representing a 4.00% capitalization rate on the asking price of $2,875,000. This is a rare opportunity to acquire a high-performing asset in a prime location within one of the nation's fastest-growing metropolitan areas. The property's 100% occupancy and strong tenant history make this a compelling investment for discerning buyers.

Location Insight

City

Charlotte

County

Mecklenburg

State

North Carolina

Longitude

-80.7952

Latitude

35.1911