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517 Nc 24 27 Byp E
Albemarle, NC 28001

$2,624,000

Freestanding For Sale  •  5,246 Sq Ft

Property Details

  • Property Type Freestanding
  • Total Building Size 5,246 Sq Ft
  • Lot Size 1.4 ac
  • Building Class B
  • Year Built 2000
  • Cap Rate 6.40 %
  • Tenancy Single
0 Transit Score
53 Walk Score

Description

RTP Capital Advisors is proud to present Applebee’s (Charlotte CSA), a 19-year absolute net leased property with 1.75% annual increases in Albemarle, NC. Applebee’s is one of the world’s largest casual dining brands with almost 2,000 locations. Applebee’s has occupied the property for over 18 years and recently signed a new 20-year lease, demonstrating its commitment to this location. 

The subject property is well located on a 1.40-acre signalized hard corner on NC Highway 24, Albemarle’s main commercial corridor. Across the street are multiple big box retailers such as Walmart, PetSmart, and TJ Maxx in addition to popular restaurants such as Zaxby’s, Cook Out, and Chick-fil-A. This commercial corridor is also occupied by many more national retailers, hotels, banks, restaurants, and car dealerships. 

Albemarle is the county seat of Stanly County and about 45 minutes east of Charlotte, one of the fastest-growing markets in the country. Charlotte is recognized as one of the best places for business in the US and is the headquarters for six Fortune 500 companies, including Bank of America. Stanly County borders the Charlotte MSA, the largest in the state and one of the top ten fastest-growing large metros in the United States.

Applebee’s (Charlotte CSA) presents an excellent opportunity to invest in a 19-year absolute net leased asset with 1.75% annual increases in one of the fastest-growing regions in the country. We are pleased to present this investment opportunity for $2,624,000 at a 6.40% cap rate.

Highlights

19-Year Absolute Net Lease with 1.75% Annual Increases
Signalized Hard Corner on Albemarle’s Primary Commercial Corridor
Surrounded by National Retailers, Hotels, Banks, and More
Charlotte: One of the Fastest Growing Regions in the US

Financial Summary

Cap Rate: 6.40 %
Raj Ravi 919-808-2801 RTP Capital Advisors
Raj Ravi 919-808-2801 RTP Capital Advisors