Joe’s Kwik Mart, Kernersville, North Carolina

826 S. Main Street no-imageVIEW MAP

Property Information

Price: $1,744,702

Cap Rate: 6.25%
NOI: $109,044
Lease Term: 4+ Years Remaining
Lease Type: Absolute NNN
Building Size: Approximately 2,944 Square Feet
Year Built: 1982/2008
Status: Available
Lead Broker Information:

Dylan O’Hara


Property Description

Investment Highlights

  • 20 Year Absolute NNN Lease with 4+ Years Remaining – Stable Cash Flow Asset – Zero Landlord Responsibilities – Two (5-Year) Options to Renew
  • Rental Increases Every 5 Years Throughout the Initial Term and Option Periods, Providing a Strong Hedge Against Inflation
  • Guaranteed Lease by Joe’s Kwik Marts, LLC (Cross America Partners, LP) – Founded in 1932, Joe’s Currently Operate More Than 130 Locations in 10 States
  • 41 Year Successful Operating History at the Site – The Property Has Been a C-Store & Gas Station Since Opening in 1982 – 2,944 Square Feet Building Situated on a 0.78-Acre Parcel Containing 13 Parking Spaces & 6 Gas Pumps
  • High Traffic Location with Excellent Visibility – More Than 30,000 Vehicles Per Day on S. Main Street, Over 17,000 Vehicles Per Day on Old Winston Rd& an Additional 72,535 on Nearby Salem Pkwy (US-421)
  • Densely Populated, Infill Location with Excellent Demographics – Over 68,000 People within a 5-Mile Radius of the Property with Average Household Income Exceeding $99,000
  • Centrally Located in Kernersville’s Strongest Retail Corridor – Surrounded by Major National Brands Including McDonald’s, Target, In-N-Out, Walmart, KFC, Jersey Mike’s & Many Others
  • Strategically Positioned Near the Main Street Market & Kerner Village Shopping Centers That Bring Daily-Needs Consumers Directly to the Trade Area – More Than 2.37 Million Combined Visits to the Centers Over the Last Calendar Year
  • Less Than 1.5-Miles from Kernersville Marketplace, New Market Plaza, Southside Square & Shops At Harmon Hill Shopping Centers – More Than 8.37 Million Combined Visits to the Centers Over the Last Calendar Year
  • Over 1 Million Square Feet of Industrial & Office Space and 2.3 Million Square Feet of Restaurant & Retail within a 5-Mile Radius of the Property, Resulting in a High Daytime Population of More Than 2,500 Businesses & 21,000 Employees
  • Strong Multi-Family Density with Over 4,000 Apartment Units within a 5-Mile Radius of the Property
  • Approximately 14.3 Miles from the Piedmont Triad International Airport, Which Attracted Over 1.7 Million Visitors in 2022 & is the Largest Airport in the Region