1001 Aspinal St Waxhaw, NC 28173
- Retail properties
- 2,400 SF
- 1.18 lot acres
Current Use by Public Records
- Retail properties
Property Details for 1001 Aspinal St
- Year built
- 2021
- Lot size
- 1.18 lot acres
- Property size
- 2,400 SF
- Property type
- Retail properties
Description
This exceptional investment opportunity presents a 2,400-square-foot Arby's restaurant located at 1001 Aspinal St, Waxhaw, NC 28173, within the Charlotte MSA. Built in 2021, the property sits on a 1.18-acre lot and boasts a strong 5.25% cap rate with a current NOI of $156,000. The property is subject to a 20-year NNN lease with 16.5 years remaining, commencing June 1, 2021, and expiring May 31, 2041. Rent increases by 5% every five years, providing consistent income growth. The lease includes four, five-year renewal options. This single-tenant property benefits from a drive-thru lane and excellent accessibility, situated in a dense retail corridor with national tenants and high-density, high-growth demographics, boasting a median household income of approximately $111,000. The property is an outparcel to the Prescot Village development and is part of a larger Waxhaw development with 29 projects planned for 2024. The asking price is $2,971,429, representing a price per square foot of $1,238.10. This is a rare opportunity to acquire a well-performing, long-term NNN leased property with a strong tenant and significant upside potential.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Waxhaw
- County
- Union
- State
- North Carolina
- Longitude
- -80.7561
- Latitude
- 34.9505
