2021 Roosevelt Blvd Monroe, NC 28112-4133

Property Details for 2021 Roosevelt Blvd

Year built

1971

Lot size

9.02 lot acres

Property size

72,000 SF

Zone code

G-I MONROE

Property type

Warehouses

Property subtype

Self storage facilities

APN

09-117-004

APU

9117004

Description

This exceptional investment opportunity presents a fee-simple ownership of a 3,276 square foot KFC restaurant located at 2021 W Roosevelt Blvd, Monroe, NC 28110. The property sits on a 1.308-acre lot in a high-traffic retail corridor, boasting 63,735 cars per day passing by. This single-tenant, absolute NNN lease with FQSR, LLC (the largest KFC franchisee in the U.S.) offers a remaining term of 20 years, expiring July 31, 2044, with two 5-year renewal options. The lease includes a 7% rent increase every five years, ensuring consistent income growth. The property's strong performance is reflected in its Net Operating Income (NOI) of $193,000, resulting in a 6.15% cap rate. Built in 2016, this well-maintained building benefits from its location near major retailers such as Target, Walmart, and Lowe's, as well as Wingate University and Atrium Health Union. The tenant's commitment is further evidenced by a planned remodel by the end of 2026. This high-volume location significantly outperforms the KFC systemwide average, demonstrating an attractive 8.18% rent-to-sales ratio. The property's strong demographics, including a 5-mile radius population of 51,111 and a 1-mile radius average household income of $92,371, contribute to its exceptional investment potential. The property is zoned C. This is a rare opportunity to acquire a stable, high-performing asset with significant long-term growth potential.

Location Insight

City

Monroe

County

Union

State

North Carolina

Longitude

-80.4927

Latitude

34.9798

CBSA code

16740

CBSA name

CHARLOTTE-CONCORD-GASTONIA, NC-SC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments