1808 South Miami Boulevard, Durham, NC, USA
$2,485,720 5.00% Cap 3,227 sq ft Representative Photo Print This Page


1808 South Miami Boulevard, Durham, NC, USA

Price: $2,485,720
Cap Rate: 5.00%
Net Operating Income: $124,286
Square Footage: 3,227
Lot Size: 0.91 AC
Rent to Sales: 6.9%

100% Fee Simple InterestAbsolute NNN LeaseLocated on a Major Commercial ThoroughfareScheduled IncreasesStrong and Experienced OperatorZero Landlord Obligations

The subject property is a 20-year Wendy’s NNN lease, which commenced in December 2018. The lease is guaranteed by Delight Raleigh 3 LLC which operates 13 units. The tenant’s parent company is Delight Restaurant Group which operates over 57 restaurants including Wendy’s and Taco Bell and is continuing to grow. This lease calls for zero landlord obligations and scheduled increases of 8% every 5 years. The tenant also has four, 5-year options to renew. The site benefits from its location in a major retail trade area.

Durham also known as Bull City, is a city in and the county seat of Durham County in the State of North Carolina. Small portions of the city limits extend into Orange County and Wake County. The U.S. Census Bureau estimated the city’s population to be 278,993 as of July 1, 2019, making it the 4th-most populous city in North Carolina, and the 74th-most populous city in the United States. The city is located in the east-central part of the Piedmont region along the Eno River. Durham is the core of the four-county Durham-Chapel Hill Metropolitan Area, which has a population of 644,367 as of U.S. Census 2019 Population Estimates. The Office of Management and Budget also includes Durham as a part of the Raleigh-Durham-Cary Combined Statistical Area, commonly known as the Research Triangle, which has a population of 2,079,687 as of U.S. Census 2019 Population Estimates.

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    Jacob Abusharkh Managing Principal View profile
    Kase Abusharkh Founding Principal View profile

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