151 Saint Mark Ave - Restaurant FOR SALE


Selma, NC 27576
$3,500,000 USD
248-688-0630
151 Saint Mark Ave, Selma, NC for Sale
$3,500,000 USD
Restaurant - FOR SALE
1/9
null | 5% Cap Rate

151 Saint Mark Ave
Selma, NC 27576


HIGHLIGHTS

  • Newly signed 10-year corporate ground lease with four 5-year extension options.
  • Absolute NNN lease with minimal landlord obligations and strong rental growth terms.
  • Positioned in Eastfield, a major regional development anchored by Target and Academy Sports.
  • Convenient access to I-95 and U.S. Highway 70 with combined traffic counts exceeding 63,000 VPD.
  • Located in a high-growth trade area supported by over 27,600 residents and significant daytime employment.

OVERVIEW

This offering presents a rare opportunity to acquire a leased fee interest in a newly constructed, corporate-guaranteed LongHorn Steakhouse under a NNN ground lease structure. Located in Selma, North Carolina, within the growing Raleigh-Cary MSA, this asset features a brand-new 10-year lease with four 5-year extension options and scheduled 10% rental increases every five years. With minimal landlord responsibilities, this property provides a reliable, low-maintenance investment with inflation-hedged returns. The subject property is strategically positioned within Eastfield, a 435-acre mixed-use development at the intersection of Interstate 95 and U.S. Highway 70 East. This dynamic regional corridor reports over 63,400 vehicles daily and hosts over 1 million square feet of complementary retail space along with business parks, multifamily, senior living, and hotel developments. Nearby tenants include Target, Marshalls, BJ’s Wholesale, Starbucks, Chick-fil-A, and McDonald’s, collectively driving consistent customer traffic. Located in an Opportunity Zone, this investment also offers potential tax benefits.

FOR SALE DETAILS

PRICE

$3,500,000 USD

PRICE/SF

$606 USD /SF

CAP RATE

5%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

ON GROUND LEASE

Yes

BUILDING DETAILS

PROPERTY NAME

Longhorn

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2026

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.5 AC

LAND SF

65,340 SF

ZONING

COM

APN/PARCEL ID

12M12004W

ASK ABOUT THIS PROPERTY

Michael CarterSRS Real Estate PartnersMore Info
248-688-0630

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Michael CarterSRS Real Estate PartnersMore Info
248-688-0630

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