954 Blowing Rock Blvd Lenoir, NC 28645-3712

Exceptional investment opportunity: acquire the established Dodge City Steak House in Lenoir, North Carolina. This thriving restaurant, located on US Highway 321, benefits from a prime location surrounded by successful businesses, ensuring consistent customer traffic. The 6,598 square foot building features a well-appointed dining area, a fully equipped kitchen designed for efficiency, a welcoming bar, and ample parking. The current lease is a Net Lease (NNN) with a remaining term of approximately 1.6 years, followed by two five-year options. The lease commenced July 1, 2021, and expires June 30, 2026. Annual rent bumps are set at 3%. The property sits on 1.22 acres of land. The asking price is $1,571,703, representing a 6.75% cap rate with a current Net Operating Income (NOI) of $106,089. This is a single-tenant property with no credit rating available for the tenant. This presents a rare chance to own a cornerstone of culinary excellence in a vibrant community. The restaurant's strong reputation and loyal customer base make this a compelling investment prospect with significant potential for future growth. The property is situated in Caldwell County, North Carolina, with the address being 954 Blowing Rock Blvd, Lenoir, NC 28645.