327 Caswell St Wadesboro, NC 28170
- Retail space
- 2,017 SF
- 1.18 lot acres
Current Use by Public Records
- Popeyes Louisiana Kitchen / Cajun Restaurant / Fast Food Restaurant
Property Details for 327 Caswell St
- Lot size
- 1.18 lot acres
- Property size
- 2,017 SF
- Property type
- Retail space
- Property subtype
- Storefront properties
- APN
- 6474-12-85-5468
- APU
- 647412855468
Description
This exceptional investment opportunity presents a fee-simple, Class A, 1,930 square-foot Popeyes restaurant located at 327 E Caswell St, Wadesboro, NC 28170. Built in 2020, this single-story building boasts a drive-thru and enjoys 100% occupancy under a 20-year net lease (with four 5-year options) commencing January 1, 2021, and expiring December 31, 2040. The lease features attractive 1.5% annual rent bumps, providing a hedge against inflation. The property generates a substantial net operating income (NOI) of $120,253, resulting in a compelling 6.00% cap rate. Positioned on Wadesboro's main commercial corridor, this strategically located property benefits from high visibility and accessibility to Highway 74, experiencing traffic counts exceeding 27,500 vehicles per day. The property is surrounded by national retailers including Wendy's, Truist, Arby's, AutoZone, BP, Food Lion, and Tractor Supply Company, ensuring a robust customer base. This prime location is situated between the Charlotte MSA and the beaches, benefiting from strong sales and a convenient location within a thriving community. The asking price is $2,004,000, translating to $1,038.34 per square foot. This is an absolute NNN lease, meaning zero landlord responsibilities. The tenant is a strong multi-unit operator, providing further security and stability for this investment. The property's location in Wadesboro, NC, nicknamed "The Heart of the Carolinas," offers easy access from both North and South Carolina, approximately one hour east of Charlotte.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $2,260,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,930,000
- 6.5%
- $1,905,000
- 7%
- $1,890,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,660,000
- Geo Method
- $1,750,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,930,000
- Retail
- $2,190,000
- Mixed-Use
- $1,980,000
- Hospitality
- $1,915,000
- Educational
- $2,080,000
- Residential Income
- $2,130,000
- Energy
- $1,600,000
- Income-Based Land
- $1,890,000
- Food Service
- $1,720,000
Location Insight
- Map
- Local Demand
- City
- Wadesboro
- County
- Anson
- State
- North Carolina
- Longitude
- -80.073
- Latitude
- 34.9692
- CBSA code
- 16740
- CBSA name
- CHARLOTTE-CONCORD-GASTONIA, NC-SC METROPOLITAN STATISTICAL AREA
