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30898793
30898794

489 Dr Calvin Jones Hwy, Wake Forest, NC 27587

CB
NC 287166
Berkeley Capital Advisors Charlotte
RF
NC 280948
Berkeley Capital Advisors Charlotte
Listed by Berkeley Capital Advisors Charlotte
$4,000,000
100 days on market
Updated 81 days ago

Whataburger Ground Lease

Details
APN 1.08
Property Type Retail
Sub Type QSR/Fast Food
Square Footage 3,505
Cap Rate 5%
NOI $200,000
Tenancy Single
Brand/Tenant Whataburger
Lease Type Absolute NNN
Lease Term 15.1
Lease Expiration 12/31/2040
Remaining Term 14.5
Rent Bumps Yes
Lease Options 3, 5-Year
Price per SqFt $1,141
Broker Co-Op Yes
Year Built 2026
Buildings 1
Stories 1
Acreage 1.080
Zoning Commercial
Parking Spaces 35 per unit
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 12/08/2025
Ground Lease Yes

15 Year Corp. Lease | 5.00% CAP | Across From Wegmans

Marketing description

Investment highlights

• New 2026 construction

• Absolute net ground lease | No landlord responsibilities

• Desirable lease term | New 15-year term

• Corporate lease | Whataburger Restaurants, LLC | 1,100 locations across 17 states

• Strategic Location | Property is located directly across from Wegmans and adjacent to a new retail development | Benefiting from strong traffic drivers, daily-needs visitation, and ongoing commercial growth

• Great visibility from Dr. Calvin Jones Hwy | 31,000 VPD

• Located inside of dense retail corridor | 3.8M SF within a 2-mile radius

• Large parcel | 1.08 acres

• Explosive population growth within 1-mile | 75.12% from ’10-‘25

• Attractive population density within a 5-mile radius | 119,425 residents

• Stable population growth over the next 5 years | 9.00% growth within a 1-mile radius

• Affluent surrounding area | $137,312 average household income within a 1-mile radius

• 6 miles from WakeMed North Hospital | 77 beds

• 10 minutes from Wake Forest High School | 2,075 students

• 25 minutes from Raleigh-Durham International Airport | 400 flights per day

• Located adjacent to The Lindley at Grove 98 Apartments | 232 residential units

• Nearby destination retailers | Walmart Supercenter, Target, Wegmans, Publix, Harris Teeter, Lowes Foods, Food Lion, ALDI, Lidl, Lowe’s, Sam’s Club, Staples, Sherwin-Williams, Texas Roadhouse, Chili’s, Panera Bread, Chick-fil-A, McDonald’s, Bojangles, Cook Out, CAVA, Dave’s Hot Chicken, and more

Listing Contacts

CB
NC 287166
Berkeley Capital Advisors Charlotte
RF
NC 280948
Berkeley Capital Advisors Charlotte
Listed by Berkeley Capital Advisors Charlotte

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Loan Amount
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$200,000.00
$16,666.67/mo

Valuation Metrics

0
DSCR
5%
Cap Rate
5%
ROI

Map

Zoning

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PUD PlannedPlanned Unit Development
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Last updated Jan 15, 2026 For deeper zoning details, reports are available at Zoneomics

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