1510 Broad St Statesville, NC 28625-4302
Property profile & analytics
1510 Broad St Statesville, NC 28625-4302
- Drive through restaurants
- 3,243 SF
- 0.86 lot acres
Property ID
US53-0274563
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Burger King / Restaurant
Property Details for 1510 Broad St
- Year built
- 1982
- Construction
- WOOD
- Lot size
- 0.86 lot acres
- Property size
- 3,243 SF
- Zone code
- B-4
- Property type
- Drive through restaurants
- APN
- 4744-87-5777.000
- APU
- 4744875777000
Description
This exceptional investment opportunity presents a 2,840 square foot, free-standing Burger King restaurant located at 1510 E Broad St, Statesville, NC 28625. Built in 2002, this single-story building sits on a 0.9-acre lot and boasts 50 on-site parking spaces. The property benefits from high visibility with two curb cuts on Broad Street and convenient access to the Broad Street Shopping Center. Featuring a fully functional drive-thru lane, this location enjoys a prime position at the I-77 interchange, offering unparalleled accessibility and exposure to a high traffic volume of 20,000 AADT on E Broad Street and 68,000 AADT on I-77. The property is strategically positioned as the first fast-food restaurant accessible from I-77 Exit 50, outpositioning competitors such as Starbucks, Bojangles, Taco Bell, Dunkin', Wendy's, and Arby's. The current lease with Burger King, signed in August 2022, extends until August 30, 2037 (12.8 years remaining), and includes a 7% percentage rent factor and fixed escalations. The tenant has operated under a percentage rent structure since 2009, and recent road improvements have significantly boosted sales. The property's projected Net Operating Income (NOI) yields a compelling 9.18% cap rate, based on current U.S. CPI. This is a triple-net (NNN) lease investment, offering a strong return on investment with a well-established tenant in a high-traffic location. The property is directly across from the city's only mall and serves as a key location within the central business district, near county and municipal offices.
Value Estimations
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Location Insight
- Map
- Local Demand
- City
- Statesville
- County
- Iredell
- State
- North Carolina
- Longitude
- -80.8597
- Latitude
- 35.7904
- CBSA code
- 16740
- CBSA name
- CHARLOTTE-CONCORD-GASTONIA, NC-SC METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$13,889
$617,040
$747,870
$1,364,910
-
$617,040
$747,870
$1,364,910
