907 Waughtown St Winston Salem, NC 27107

This exceptional investment opportunity presents a fee-simple ownership of a Church's Chicken fast-food restaurant located at 907 Waughtown Street, Winston-Salem, North Carolina. The property boasts 1,482 square feet on a 0.37-acre lot, situated in a high-traffic area. The current lease, an absolute NNN (Triple Net) agreement with a corporate guarantee from Church's Chicken, offers significant long-term stability. The lease commenced February 1st, 2004, and has a remaining term of 10.1 years, extending to December 28th, 2034, with two five-year renewal options. The annual rent is $59,172, with annual escalations of 1.5%, providing consistent income growth. The property's strong performance is evidenced by the tenant's recent decision to sign a 10-year lease extension. The location benefits from its proximity to a Food Lion grocery store, UNC School of Arts (within one mile), and Winston-Salem State University (within two miles), ensuring a substantial customer base. Built in 1974, this single-story building is zoned for commercial use and features a fully functional drive-thru. The asking price is $956,752, representing a 6.18% cap rate. This is a rare opportunity to acquire a well-established, high-performing QSR property with a strong tenant and significant upside potential. The property is offered as a 1031 exchange opportunity.