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Popeyes 11858 University City Blvd 2,400 SF Retail Building Charlotte, NC 28213 $2,546,308 ($1,060.96/SF) 5.50% Cap Rate
Investment Highlights
- Charlotte is the fastest growing major city in the U.S.
- Charlotte is the 2nd largest banking center in the U.S.
- The property is located in close proximity to the University of North Carolina at Charlotte (32,200 students).
- The property is located in close proximity to the Truliant Amphitheater (400,000 annual visitors).
Executive Summary
The subject property is a Popeyes drive-thru located in Charlotte, North Carolina. The 15 year remaining lease includes 1.5% annual rent increases in the primary term and throughout the (4), 5-year option periods.
The property is strategically located in close proximity to the University of North Carolina at Charlotte (32,200 students) in a dense retail trade area on the “Going Home” side of the street. The property benefits from its convenient access right off Interstate-485 (±90,715 CPD) at University City Boulevard (±34,500 CPD). Additionally, within 5 miles of the subject property, there are 161,039 residents with an average household income exceeding $120,000 annually. The Charlotte population has been rapidly growing and is expected to grow another 12.48% over the next 5 years.
The property is strategically located in close proximity to the University of North Carolina at Charlotte (32,200 students) in a dense retail trade area on the “Going Home” side of the street. The property benefits from its convenient access right off Interstate-485 (±90,715 CPD) at University City Boulevard (±34,500 CPD). Additionally, within 5 miles of the subject property, there are 161,039 residents with an average household income exceeding $120,000 annually. The Charlotte population has been rapidly growing and is expected to grow another 12.48% over the next 5 years.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Fast Food
Building Size
2,400 SF
Building Class
B
Year Built
2021
Price
$2,546,308
Price Per SF
$1,060.96
Cap Rate
5.50%
NOI
$140,047
Tenancy
Single
Building Height
1 Story
Building FAR
0.03
Lot Size
1.63 AC
Zoning
C
Frontage
422’ on University City Blvd.
Amenities
- Signage
- Drive Thru
Somewhat walkable
30/100
Exceptionally drivable
100/100
Not bikeable
10/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 051-141-23 | Improvements Assessment | $0 |
| Land Assessment | $947,900 | Total Assessment | $947,900 |
Property Taxes
Parcel Number
051-141-23
Land Assessment
$947,900
Improvements Assessment
$0
Total Assessment
$947,900
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