1039 N Bridge St - Fast Food FOR SALE


Elkin, NC 28621
$1,108,000 USD
949-506-2012
1039 N Bridge St, Elkin, NC for Sale
$1,108,000 USD
Fast Food - FOR SALE
1/9
null | 6.5% Cap Rate

1039 N Bridge St
Elkin, NC 28621


HIGHLIGHTS

  • Approximately 16 Years Remaining | 7.5% Increases Every 5 Years
  • Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
  • Strategic Elkin Location | Dense Retail Corridor
  • Strong Demographics and Daytime Population in 5-Mile Trade Area
  • Major Employment and Traffic Drivers Nearby | 81-Bed Hospital
  • Tasty Hut, LLC | 450+ Unit Multi-Brand Restaurant Operator

OVERVIEW

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, Pizza Hut investment property located in Elkin, North Carolina. The tenant has approximately 16 years remaining on its initial lease term with 4 (5-Year) options to extend, demonstrating their commitment to the site. The lease features 7.50% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for an out of state investor.

FOR SALE DETAILS

PRICE

$1,108,000 USD

PRICE/SF

$478 USD /SF

CAP RATE

6.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Pizza Hut | 16yr NNN | ±450 Unit Operator

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Fast Food

ADD'L SUBTYPES

Freestanding, Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2000

SPRINKLERS

-

PARKING SPACES

50

LAND DETAILS

LAND ACRES

0.98 AC

LAND SF

42,689 SF

ZONING

Highway Business

APN/PARCEL ID

4951-06-49-5367

ASK ABOUT THIS PROPERTY

Gary ChouSRS National Net LeaseMore Info
949-506-2012

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

Gary ChouSRS National Net LeaseMore Info
949-506-2012

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