1131 Burke St
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1131 Burke St
7,200 SF 100% Leased Retail Building Winston-Salem, NC 27101 £1,084,875 (£151/SF) 6% Net Initial Yield
Executive Summary
This property for sale features a brand new 10-year NNN lease with Dive Bar, a credit tenant with multiple units that is growing rapidly and is nationally trademarked. Located in the vibrant West End area, the free-standing building offers ample on-street parking. The property rollup doors and a patio fronting Burke St. It spans 7,000± SF across two levels, with a 3,500± SF level bar and a 3,500± SF basement featuring a roll-up door fronting 1st St. Zoned for Pedestrian Business, this property is offered at $1,375,000 with a 6% CAP rate and 2% annual increases.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
7,200 SF
Building Class
C
Year Built
1961
Price
£1,084,875
Price Per SF
£151
Net Initial Yield
6%
NOI
£65,092
Percent Leased
100%
Tenancy
Multiple
Number of Floors
1
Zoning
PB
Parking
12 Spaces (1.67 Spaces per 1,000 SF Leased)
Frontage
78 ft on Burke St
Amenities
- Signage
Walk Score ®
Very Walkable (86)
Nearby Major Retailers
-
Charlie Fulk -
Meridian Realty Group, Inc.
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1131 Burke St
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