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Biscuitville 4507 W Wendover Ave 3,711 SF Retail Building Greensboro, NC 27409 $3,986,000 ($1,074.10/SF) 5.75% Cap Rate
INVESTMENT HIGHLIGHTS
- INVESTMENT HIGHLIGHTS HIGHLY ACCESSIBLE & VISIBLE LOCATION
- LOCAL CORPORATE TENANT
- HIGH GROWTH GREENSBORO
EXECUTIVE SUMMARY
STRONG LEASE FUNDAMENTALS
- New 15 year Abs NNN lease with eight (8) 5-year renewals
- 10% rent increases every 5 years during current term & option periods
- No LL responsibility
LOCAL CORPORATE TENANT
- Biscuitville Fresh Southern is headquartered in Greensboro where they have been able to stage the launch of 85+ locations
- Regional leader in QSR breakfast category
HIGH QUALITY REAL ESTATE
- 2K SF QSR Prototype with a drive through
- Commitment to local market while they expand in the Carolinas and outpace overall QSR growth
INVESTMENT HIGHLIGHTS HIGHLY ACCESSIBLE & VISIBLE LOCATION
- Cross access through the shopping center providing access to the light
- Strategically positioned with immediate access to I-40, W Wendover Ave and I-73
- Collectively these interstates handle 250,000+ VPD
RETAIL TRADE AREA
- Outparcel to Landmark Station mall
- Within a 1-mile radius there is a dense 3.1M SF retail corridor that asset is situated in
- National credit tenants drive consistent customer traffic
- Nearby national tenants include Lowes, Home Depot, Walmart, Costco, Sam’s Cub
HIGH GROWTH GREENSBORO
- Located in the Triad MSA, one of North Carolina’s three largest metropolitan areas
- In 2023, Greensboro witnessed construction values surpassing $1 billion, marking a 37% increase from the previous year
- Projections estimate that Greensboro will welcome an additional 60,000 residents over the next two decades
- New 15 year Abs NNN lease with eight (8) 5-year renewals
- 10% rent increases every 5 years during current term & option periods
- No LL responsibility
LOCAL CORPORATE TENANT
- Biscuitville Fresh Southern is headquartered in Greensboro where they have been able to stage the launch of 85+ locations
- Regional leader in QSR breakfast category
HIGH QUALITY REAL ESTATE
- 2K SF QSR Prototype with a drive through
- Commitment to local market while they expand in the Carolinas and outpace overall QSR growth
INVESTMENT HIGHLIGHTS HIGHLY ACCESSIBLE & VISIBLE LOCATION
- Cross access through the shopping center providing access to the light
- Strategically positioned with immediate access to I-40, W Wendover Ave and I-73
- Collectively these interstates handle 250,000+ VPD
RETAIL TRADE AREA
- Outparcel to Landmark Station mall
- Within a 1-mile radius there is a dense 3.1M SF retail corridor that asset is situated in
- National credit tenants drive consistent customer traffic
- Nearby national tenants include Lowes, Home Depot, Walmart, Costco, Sam’s Cub
HIGH GROWTH GREENSBORO
- Located in the Triad MSA, one of North Carolina’s three largest metropolitan areas
- In 2023, Greensboro witnessed construction values surpassing $1 billion, marking a 37% increase from the previous year
- Projections estimate that Greensboro will welcome an additional 60,000 residents over the next two decades
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
3,711 SF
Building Class
B
Year Built/Renovated
2006/2018
Price
$3,986,000
Price Per SF
$1,074.10
Cap Rate
5.75%
NOI
$229,212
Tenancy
Single
Building Height
1 Story
Building FAR
0.13
Lot Size
0.68 AC
Zoning
CSC
Parking
40 Spaces (10.78 Spaces per 1,000 SF Leased)
Frontage
127’ on W Wendover
AMENITIES
- Pylon Sign
- Drive Thru
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
- Biscuitville
- Services
- 3,711 SF
- -
- Dec 2040
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
| Biscuitville | Services | 3,711 SF | - | Dec 2040 |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 0074723 | Improvements Assessment | $811,500 |
| Land Assessment | $814,600 | Total Assessment | $1,626,100 |
PROPERTY TAXES
Parcel Number
0074723
Land Assessment
$814,600
Improvements Assessment
$811,500
Total Assessment
$1,626,100
CONTACTS
-
David Hoppe -
Mike Lucier -
Ben Olmstead -
Ben McCarter -
Connor Kuchman -
Atlantic Capital Partners
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Biscuitville | 4507 W Wendover Ave
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