1510 E Broad St - Retail FOR SALE


Statesville, NC 28625
$2,100,000 USD
919-349-3569
1510 E Broad St, Statesville, NC for Sale
$2,100,000 USD
Retail - FOR SALE
1/4
null | 8.19% Cap Rate

1510 E Broad St
Statesville, NC 28625


HIGHLIGHTS

  • YEAR 5 CAP RATE BASED ON CURRENT SALES GROWTH RATE: 8.5%
  • YEAR 1 CAP RATE ON PROJECTED NOI: 6.0%
  • NEW 15-YEAR LEASE SIGNED AUGUST 2022 BY 1000+ STORE FRANCHISEE
  • TENANT IN PERCENTAGE RENT SINCE 2009
  • 7% PERCENTAGE RENT FACTOR AND FIXED ESCALATIONS.
  • I-77 INTERCHANGE

OVERVIEW

Store has been in Percentage Rent for since 2009, and is currently experiencing a surge in sales due to completion of recent road improvements . Cap rate based on average NOI using current U.S. CPI. This 2,840 SF freestanding restaurant space sits on approximately 0.9 acres and features 50 onsite parking spaces. The property offers peak visibility with two curb cuts on Broad Street, and cross-access to Broad Street Shopping Center. Built in 2002 for Burger King, the building has a fully functional drive through lane including order and pick up windows and parking spaces.

FOR SALE DETAILS

PRICE

$2,100,000 USD

PRICE/SF

$739 USD /SF

CAP RATE

8.19%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Burger King

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1982

SPRINKLERS

-

PARKING SPACES

70

LAND DETAILS

LAND ACRES

0.9 AC

LAND SF

39,204 SF

ZONING

B4

APN/PARCEL ID

4744-87-5777.000

ASK ABOUT THIS PROPERTY

Brian GrabowskiTradeMark PropertiesMore Info
919-349-3569

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Brian GrabowskiTradeMark PropertiesMore Info
919-349-3569

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.