1354 Broad Ave Rockingham, NC 28379-4904

Property Details for 1354 Broad Ave

Lot size

1.14 lot acres

Zone code

B3

Property type

Commercial real estate

APN

747202565834

APU

747202565834

Description

This exceptional investment opportunity presents a fee-simple ownership of a 3,002 square foot KFC restaurant located at 1354 E Broad Ave, Rockingham, NC 28379. The property sits on a 0.716-acre lot and benefits from a brand new 20-year absolute NNN lease with FQSR, LLC, the largest KFC franchisee in the U.S., expiring July 31, 2044. This lease includes two 5-year renewal options and features a 7% rent increase every five years. The property boasts a 6.15% cap rate and a current NOI of $212,000. Built in 2016, this single-story building enjoys a prime location on a pad site adjacent to a Lowe's Home Improvement store, at a hard corner with a signalized intersection. The high-traffic location on E Broad Ave sees 25,166 cars per day, providing excellent visibility and accessibility. Sales significantly exceed the KFC systemwide average, resulting in an attractive 7.99% rent-to-sales ratio. The tenant is slated for a remodel by the end of 2026, demonstrating their long-term commitment to this location. The surrounding area includes a mix of national retailers such as Belk, Ross Dress for Less, Walmart, and numerous other businesses. The property is also conveniently located less than three miles from Richmond Community College and less than one mile from FirstHealth Moore Regional Hospital. 2023 demographics show a total population within a five-mile radius of 30,081 and an average household income within one mile of $74,180. This is a rare opportunity to acquire a high-performing, long-term net lease investment with a strong tenant and excellent location. The property is zoned C.

Location Insight

City

Rockingham

County

Richmond

State

North Carolina

Longitude

-79.7488

Latitude

34.9205

CBSA code

40460

CBSA name

ROCKINGHAM, NC MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments