Current Use by Public Records
- Baskin-Robbins / Grocery & Convenience Store / Specialty Food Shop
- Slim Chickens / Restaurant
- Dunkin' / Cafe & Coffee Shop
Property Details for 807 3Rd St
- Year built
- 2023
- Property type
- Retail properties & Spaces
Description
This exceptional investment opportunity presents a brand-new, 3,200 square foot Slim Chickens restaurant in Pembroke, NC, built in 2023. Located on approximately 2 acres with ±18,000 vehicles per day, this property benefits from its proximity to the University of North Carolina at Pembroke, boasting over 8,300 students and a 22% enrollment increase in 2023. The property features a 20-year absolute NNN lease with a franchisee tenant, offering zero landlord responsibilities. The lease includes 5% rent bumps every 5 years, providing a strong hedge against inflation. The asking price is $3,916,667, yielding a 6.00% cap rate and a $235,000 annual net operating income (NOI). The lease has four 5-year renewal options, ensuring long-term income stability. This fee-simple ownership offers a compelling investment in a rapidly growing, university-centric market with a proven, established fast-food tenant. The Slim Chickens brand is expanding rapidly, with plans to add 500 more units in the next five years. This presents a rare opportunity to acquire a high-performing asset with significant long-term growth potential.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Pembroke
- County
- Robeson
- State
- North Carolina
- Longitude
- -79.2033
- Latitude
- 34.6847
