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Denny's 808 S Memorial Dr 4,470 SF Retail Building Greenville, NC 27834 $2,420,000 ($541.39/SF) 6.75% Cap Rate
INVESTMENT HIGHLIGHTS
- Approximately 9 Years Remaining | Personal Guaranteed | Scheduled Rental Increases
- Greenville Square Center (251,000 SF) | Greenville Mall (491,000 SF) |ECU Health Medical Center (974 Beds) | Primary Retail Corridor
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
- Strong Demographics in 5-Mile Trade Area
EXECUTIVE SUMMARY
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, Denny’s investment property located in Greenville, North Carolina. The tenant, RJC, LLC dba Denny’s has over 10 years remaining on the initial term with 2 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management-free investment opportunity for a passive investor.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
4,470 SF
Building Class
C
Year Built/Renovated
1992/2000
Price
$2,420,000
Price Per SF
$541.39
Cap Rate
6.75%
NOI
$163,350
Tenancy
Single
Building Height
1 Story
Building FAR
0.12
Lot Size
0.84 AC
Zoning
MCH - Mixed Use Commercial High Intensity
Parking
53 Spaces (11.86 Spaces per 1,000 SF Leased)
Frontage
130’ on Memorial Dr
AMENITIES
- Corner Lot
- Pylon Sign
- Restaurant
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 035467 | Improvements Assessment | $416,521 |
| Land Assessment | $365,900 | Total Assessment | $782,421 |
PROPERTY TAXES
Parcel Number
035467
Land Assessment
$365,900
Improvements Assessment
$416,521
Total Assessment
$782,421
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Denny's | 808 S Memorial Dr
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