Properties

Arby's, Reidsville, NC

5156 US Highway 29 Business
Reidsville, NC 27320

PROPERTY SOLD

Property: Investment Sales

Price: $1,516,625

Cap Rate: Call

Description:

• Focus Ten, Inc.(25-unit franchisee) 5156 US Hwy 29 Business, located 25 miles N of Greensboro just off US Hwy 29
• 2,895 square feet developed in 2008 on a 0.93-acre outparcel to a Food Lion anchored center
• Tenant is on a 20-year NNN lease with 7% rent bumps every 5 years and 4,5-year options
• Highly leveraged buyer paid $1,516,625 and closed escrow on 11/24/08 with a 70% loan contingency
• Buyer was a private investment group out of NC placing excess capital into real estate