2710 Main St High Point, NC 27265-2825

Property Details for 2710 Main St

Year built

1991

Construction

FRAME

Lot size

16.36 lot acres

Property size

161,377 SF

Zone code

CU-SC

Property type

Retail space

APN

197798

APU

197798

Description

This exceptional investment opportunity presents a fee-simple ownership of a Wendy's fast-food restaurant located at 2710 S Main St, High Point, NC 27263. The property boasts a 4,206 square-foot building constructed in 2008 on a 1.13-acre lot. Currently operating under a 20-year absolute NNN lease with a franchisee tenant, the lease commenced on July 13, 2014, and expires on July 12, 2034, leaving approximately 9.6 years remaining. The lease includes attractive 10% rent increases every five years, ensuring consistent income growth. The property enjoys a 100% occupancy rate since its opening date, July 13, 2014, generating a substantial net operating income (NOI) of $96,800, representing a 5.75% cap rate on the asking price of $1,683,478 ($400.26 per square foot). The property benefits from its prime location on a major retail corridor, experiencing high daily traffic exceeding 21,717 vehicles. Its proximity to a Walmart and numerous apartment complexes, new home developments, and educational institutions further enhances its value and potential for long-term growth. The surrounding area boasts a strong demographic profile, with over 93,652 residents in the immediate trade area and an average household income exceeding $64,039. The lease includes four five-year renewal options. This is a rare opportunity to acquire a well-established, high-performing Wendy's location with a secure, long-term lease and significant upside potential.

Location Insight

City

High Point

County

Guilford

State

North Carolina

Longitude

-80.0292

Latitude

35.9945

CBSA code

24660

CBSA name

GREENSBORO-HIGH POINT, NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments