231 Madison Blvd Roxboro, NC 27573-5427

Property Details for 231 Madison Blvd

Year built

1989

Lot size

1.14 lot acres

Property size

3,230 SF

Property type

Drive through restaurants

APN

30 1

APU

301

Description

This exceptional investment opportunity presents a 3,230 square foot Burger King restaurant located at 231 S Madison Blvd, Roxboro, NC 27573. The property sits on a 1.14-acre lot with 42 parking spaces and benefits from a high-traffic location with approximately 47,200 vehicles per day. The property is currently operating under a 20-year Absolute NNN lease with 12 years remaining, commencing October 16, 2016, and expiring October 29, 2036. The lease includes four, 5-year renewal options with 1.50% annual rent increases. The current annual net operating income (NOI) is $191,448, resulting in a 6.25% cap rate at the asking price of $3,063,000. The tenant is a franchisee of a 200+ unit operator, providing strong financial backing and operational stability. The property was remodeled in 2015 to Burger King's 20/20 prototype, demonstrating the tenant's long-term commitment. This is a passive investment with zero landlord responsibilities. The property's proximity to Person High School (1,100+ students) and Person Memorial Hospital (98 beds) further enhances its value and potential for long-term growth. The blended cap rate over the remaining base term is 6.80%, assuming purchase at the list price. This is a 1031 exchange eligible property.