709 Jk Powell Blvd Whiteville, NC 28472
- Banks
- 3,262 SF
- 1.63 lot acres
Current Use by Public Records
- KFC / Fast Food Restaurant / Chicken Restaurant
Property Details for 709 Jk Powell Blvd
- Year built
- 2020
- Lot size
- 1.63 lot acres
- Property size
- 3,262 SF
- Property type
- Banks
Description
This exceptional investment opportunity presents a fee-simple ownership of a 3,262 square foot KFC restaurant located at 709 N JK Powell Blvd, Whiteville, NC 28472. The property sits on a 1.628-acre lot and boasts a brand-new, 20-year absolute NNN lease with FQSR, LLC, the largest KFC franchisee in the U.S., operating approximately 832 locations. The lease, expiring July 31, 2044, includes two five-year renewal options and features a 7% rent increase every five years. The property has a 6.15% cap rate and a current NOI of $161,000. Built in 2020, this single-story building enjoys 100% occupancy and benefits from a prime location with excellent visibility and access on a major thoroughfare, experiencing high daily traffic counts of 34,619 vehicles. The surrounding area includes a mix of national retailers and dining establishments, along with Southeastern Community College and Columbus Regional Healthcare System, contributing to a robust local economy. The tenant's commitment is further evidenced by a planned remodel by the end of 2032. This property offers a compelling combination of strong tenant performance, long-term lease security, and significant upside potential, making it an ideal addition to any investment portfolio. The property is zoned C. The rent-to-sales ratio is an attractive 8.22%. The average household income within one mile is $77,430, and the total population within five miles is 11,285. The asking price is $2,618,000.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Whiteville
- County
- Columbus
- State
- North Carolina
- Longitude
- -78.7090718
- Latitude
- 34.3384112
