Cap Rate: 5.00%
Net Operating Income: $137,739
Square Footage: 3,468
Rent to Sales: 6.9%
The subject property is a 20-year Wendy’s NNN lease, which commenced in December 2018. The lease is guaranteed by Delight Restaurant Group. - currently an operator of 57 restaurants (31 Wendy’s and 26 Taco Bells). 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.
Roxboro is a city and the county seat of Person County, North Carolina. The population was 8,362 at the 2010 census. The city is 30 miles (48 km) north of Durham and is a part of the four-county Durham–Chapel Hill Metropolitan Statistical Area, which has a population of 504,357 as of the 2010 Census. The Durham–Chapel Hill MSA is a part of the larger Raleigh–Durham–Cary Combined Statistical Area, which has a population of 1,749,525 as of the 2010 Census.