1948 Rockford St, Mount Airy, NC 27030-5202

This exceptional investment opportunity presents a fee-simple ownership of a 10,100-square-foot Cracker Barrel Old Country Store restaurant situated on a 1.63-acre lot in Mount Airy, North Carolina. The property boasts a prime location, benefiting from high visibility and strong traffic counts due to its proximity to major retailers like Lowe's and Food Lion, and its placement along Highway 52, a primary commuter route. The single-tenant, absolute NNN ground lease with Cracker Barrel (NYSE: CBRL) offers significant stability and predictable cash flow. The lease commenced July 20, 2015, and has a remaining term of 5.7 years, with six five-year renewal options. The current lease includes a 10% rent increase every five years. The property features 131 parking spaces and is in excellent condition, having been built in 2015. The current Net Operating Income (NOI) is $148,500, representing a 5.50% cap rate on the asking price of $2,700,000. The property's land value is $267.33 per square foot. This investment offers a compelling combination of a strong corporate tenant, a favorable lease structure, and a desirable location within a thriving retail corridor. The property is zoned MI and is conveniently located near Surry Community College, Northern Regional Hospital, and numerous other businesses. The tenant, Cracker Barrel, is a publicly traded company with a strong financial track record, reporting $3.47 billion in annual revenue in 2024. This presents a rare opportunity to acquire a well-performing, passively managed investment with significant long-term potential.