400 Old Franklin Tpke, Rocky Mount, VA 24151-5857
- Turn key restaurants
- 4,008 SF
- 1.32 lot acres
Current Use by Public Records
- Wendy's / Restaurant / Take-out & Catering
- Supercuts / Hair Salon
- Kroger Pharmacy / Pharmacy
- Virginia ABC / (Bike/Boat/Book/etc) Store
- OneMain Financial / Loan Service
Property Details for 400 Old Franklin Tpke
- Year built
- 2003
- Lot size
- 1.32 lot acres
- Zone code
- GB
- Property type
- Turn key restaurants
- APN
- 202 00-010 00
- APU
- 2020001000
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Nov 8, 2023 | $2,600,000 | Rmva LLC | Mce Commercial LLP | Deed | $1.9M · Truliant FCU |
| Nov 18, 2022 | — | Virginia Alcoholic Beverage Control | Rocky Mount Development Company LLC | Lease | — |
| Jun 14, 2010 | $1,804,350 | J LLP | Dbapplef LLC | Grant Deed · related | — |
| — | — | Mce Commercial LLP | — | Deed Of Trust · related | $400k · Freedom First Cu |
| — | — | J LLP | — | Deed Of Trust · related | $5.5M · Freedom First Cu INC |
Description
Exceptional investment opportunity: a Wendy's sale-leaseback in Rocky Mount, Virginia. This 3,222 square foot, single-tenant property sits on a 0.91-acre lot at 400 Old Franklin Turnpike, Suite 125, zip code 24151. Built in 2000 and renovated in 2017, the property boasts a strong 5.65% cap rate and a substantial net operating income (NOI) of $144,075. The asking price is $2,550,000, translating to $791.43 per square foot. The property features a 15-year NNN lease commencing December 1, 2024, and expiring November 30, 2039, with four 5-year renewal options. The tenant is a highly creditworthy Wendy's franchisee with a proven track record and extensive experience operating multiple Wendy's locations across the US East Coast since 1988. This is a single-unit investment, part of a larger portfolio, offering significant rental increases every five years. The property enjoys excellent visibility and accessibility, situated near major roadways, businesses, and schools, including Walmart, Lowe's, McDonald's, and Bojangles. This sale-leaseback presents a compelling opportunity for passive income generation with minimal landlord responsibilities. The property's location ensures strong sales and consistent cash flow.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $2,085,000
- ML approach
- $2,000,000
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Rocky Mount
- County
- Franklin
- State
- Virginia
- Longitude
- -79.8665
- Latitude
- 37.014
- CBSA code
- 40220
- CBSA name
- ROANOKE, VA METROPOLITAN STATISTICAL AREA
