Current Use by Public Records
- Retail properties & Spaces
Property Details for 1517 Nc 24-87
- Year built
- 2024
- Lot size
- 1.13 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Restaurants
Description
This exceptional investment opportunity presents a brand-new, 1,990 square foot Popeyes restaurant in Cameron, North Carolina. Built in 2024, this Class A property boasts a 15-year absolute triple-net (NNN) lease with a franchisee tenant, ensuring minimal landlord responsibilities. The lease includes attractive 8% rent increases every five years, providing significant long-term growth potential. Located on a highly visible 1.13-acre lot fronting NC Hwy 24-87 (41,000 vehicles per day), the property benefits from its strategic position within a rapidly growing area, experiencing a 7% annual population growth over the past 13 years. The surrounding area features over 212,000 square feet of retail space within a one-mile radius, including national brands like McDonald's, Food Lion, and Wendy's. The property's proximity to Fort Liberty, the world's largest military base, further enhances its value and stability. With a current NOI of $162,864 and an asking price of $2,714,000, this investment offers a compelling 6% cap rate. The lease includes three 5-year renewal options, providing additional long-term security. This is a fee-simple ownership opportunity with no ground lease. The property's strong tenant, favorable lease terms, and prime location make it an ideal addition to any investment portfolio.
Value Estimations
-
AI approach
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Cameron
- County
- Harnett
- State
- North Carolina
- Longitude
- -79.0376
- Latitude
- 35.2573
