Address: 4053 River Pointe Place,, High Point, North Carolina, United States 27265
Cap Rate: 8.25%
Lease Type: Triple-Net (NNN) Lease
Annual Rent: $150,870
Net Operating Income: $150,870
Lease Term Remaining: 7.25 Years
Rental Increases: 1.70% Annually
Options: Four (4), Five (5)-Year Options
Year Built: 2007
Rentable Sq/Ft: 3,022 SF
Rent Sq/Ft: $49.92
Price Sq/Ft: $605
Lot Size: +/- 1.50 Acres
Marcus & Millichap is pleased to present the exclusive listing for the Arby’s located at 4053 River Point Place in High Point, NC. The property was built in 2007 and consists of approximately 3,022 rentable square feet on 1.50 acres of land.
The true Triple-Net (NNN) lease has seven years remaining on the original 20-year lease. The tenant is paying an annual rent of $150,870 that is scheduled to increase by 1.70% annually. The property is a perfect redevelopment property as it sits on a large parcel, off of a busy street, in a very dense retail corridor.
The subject property is an Arby’s situated on River Pointe Place, which experiences an average daily traffic count exceeding 45,500 vehicles. Eastchester Drive intersects with West Wendover Ave, which brings an additional 32,700 vehicles into the immediate area on average daily. There are more than 121,000 individuals residing within a five-mile radius of the property and more than 405,300 individuals within a ten-mile radius.
This Arby’s benefits from being well-positioned in a highly dense retail corridor consisting of national and local tenants, shopping centers, and academic institutions all within a close proximity of this property. Major national tenants include: Walmart, Belks, Office Depot, Big Lots McDonald’s, Walgreen, Goodwill, Dollar General, Burger King, Texas Roadhouse, Wendy’s, as well as many others. This Arby’s benefits from its close proximity to several academic institutions. Most notable is High Point University, which has a total enrollment of approximately 5,000 students and is located only five-miles from the subject property. Additionally, the property sits at the entrance to Deep River Point Apartment complex, which has 240 units and is a short drive from the Cone Health Medical Center, which is a full-service, 238 bed hospital facility.
A globally connected community, High Point earned its nicknames as North Carolina’s International City and Home Furnishings Capital of the World. Twice each year, the City hosts the High Point Market, the world’s largest home furnishings trade show. High Point is located alongside Greensboro and Winston-Salem in the Piedmont Triad region of North Carolina, the nation’s 37th largest metro area with a population exceeding 1.6 million. High Point’s current population is estimated to be approximately 113,000 residents; Greensboro, 287,000; and Winston-Salem, 241,500. The High Point, Greensboro, and Winston-Salem region has a labor force of more than 800,000. More than 110,000 students are enrolled at 21 colleges, universities, and community colleges. The High Point EDC and the Greensboro Chamber of Commerce work to promote Greensboro-High Point as members of the Guilford County Economic Development Alliance – a collaborative effort along with Guilford County, the City of High Point, and the City of Greensboro.
Broker of Record: Benjamin Yelm License #303785