348 Whiteville NW Rd Shallotte, NC 28470-4506
- Drive through restaurants
- 4,200 SF
- 2.18 lot acres
Current Use by Public Records
- KFC / Chicken Restaurant / Fast Food Restaurant
Property Details for 348 Whiteville NW Rd
- Year built
- 2008
- Lot size
- 2.18 lot acres
- Property size
- 4,200 SF
- Property type
- Drive through restaurants
- APN
- 1970005014
- APU
- 1970005014
Description
This exceptional investment opportunity presents a single-tenant, absolute NNN leased KFC restaurant located at 348 Whiteville Rd NW, Shallotte, NC 28470. The property boasts a 4,006 square foot building situated on a substantial 2.183-acre lot, offering excellent visibility and accessibility. The current lease with FQSR, LLC, the largest KFC franchisee in the U.S., extends until July 30, 2044, with two five-year renewal options. This represents a secure, long-term investment with a 6.00% cap rate and a current NOI of $139,000. The lease includes a 7% rent increase every five years, ensuring consistent growth in rental income. Built in 2020, the property benefits from its prime location across from Lowe's Home Improvement and near numerous other major retailers, including Walmart, Hobby Lobby, and Home Depot. The area demonstrates strong demographics, with a high average household income within a one-mile radius. The property is zoned C and enjoys high traffic counts of 12,918 cars per day on Whiteville Rd NW. The tenant, a highly successful operator with over 832 locations, anticipates exceeding $1.1 billion in sales in 2024. A planned remodel in 2030 further underscores the tenant's commitment to this location. This is a rare opportunity to acquire a well-performing, established asset in a thriving retail corridor.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $2,225,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $2,105,000
- 6.5%
- $2,195,000
- 7%
- $2,225,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $2,190,000
- Geo Method
- $2,080,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $2,020,000
- Retail
- $1,645,000
- Mixed-Use
- $2,225,000
- Hospitality
- $1,840,000
- Educational
- $2,215,000
- Residential Income
- $1,930,000
- Energy
- $1,645,000
- Income-Based Land
- $2,005,000
- Food Service
- $1,795,000
Location Insight
- Map
- Local Demand
- City
- Shallotte
- County
- Brunswick
- State
- North Carolina
- Longitude
- -78.4009
- Latitude
- 33.9732
- CBSA code
- 34820
- CBSA name
- MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC METROPOLITAN STATISTICAL AREA
