Listed by Matthews
$1,248,780
Wendy's
Details
Property Type Retail
Sub Type Restaurant
Square Footage 3,228
Cap Rate 6.20%
NOI $77,440
Tenancy Single
Brand/Tenant Wendy's
Lease Type NNN
Lease Expiration 01/27/2031
Remaining Term 4
Price per SqFt $387
Acreage 0.670
Lease Commencement 01/27/2016
Ground Lease No
Absolute NNN Wendy’s – 4 Years Remaining, 230+ Unit Operator, Prime NC Retail Corridor
Investment highlights
- Strong Retail Corridor: Positioned along N Berkeley Blvd, one of Goldsboro’s primary retail corridors, with strong visibility and consistent daily traffic ~20,000 VPD. The property is positioned in a thriving retail corridor surrounded by several national and regional tenants. Established retailers in the area driving traffic include Berkeley Mall, Walmart, Sam’s Club, Target, Lowe’s, and multiple national QSR concepts, driving consistent consumer activity.
- Passive Lease Structure: 4 Years Remaining on an Absolute NNN lease with no landlord responsibilities, providing investors with a truly passive ownership structure.
- Experienced Wendy’s Operator: Operated by a nationally recognized Wendy’s franchisee with 230+ locations, demonstrating operational strength and long-term brand commitment.
- Below-Market Rent: The current base rent is well below market averages for Drive Thru concepts on this corridor. This not only provides a sense of security in the event of future repositioning, but also future upside to raise rents after the options period. Fair Market Value options not less than 110% of the previous base rent provide future upside.
Listing Contacts
Listed by Matthews
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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$77,439.96
$6,453.33/mo
Valuation Metrics
0
DSCR
6.2%
Cap Rate
6.2%
ROI
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Zoning
GB CommercialGeneral CommercialGeneral Business
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