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Krispy Kreme & Verizon, Winston-Salem , NC

Krispy Kreme & Verizon

Price $3,913,000
Cap Rate 6.70%
NOI $262,285
Lease Term Various
Lease Type Various
Rental Increases Various
Year Built 2009
Building Size 7,000 SF
Lot Size 1.07 acres (46,590 SF)
Status Available
Lead Broker Information Michael T. Yuras, CCIM
Cushman & Wakefield
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Senior Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Ryan Forsyth
Executive Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Vince Aicale
Executive Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Investment Highlights

100% LEASED TWO-TENANT RETAIL CENTER
» Recent lease extensions from Krispy Kreme and Verizon, demonstrating long-term commitment to the location
» Established retail center with successful operation history

WELL-POSITIONED ASSET WITH STRONG CORPORATE TENANTS
» Verizon is 16th on the Fortune 500 and has annual revenue of $131 billion
» Krispy Kreme is based in Winston-Salem and has a loyal customer base
» Krispy Kreme has a rare drive-thru component and is perfectly positioned to capture commuter traffic along U.S. Highway 52
» Verizon location out-positions other area cellular competitors

HIGH-TRAFFIC LOCATION IN DENSE RETAIL CORRIDOR
» Excellent visibility and access to 29,000 vehicles per day on University Parkway
» Immediate access to U.S. Highway 52, a busy transportation corridor with a traffic volume of 52,000 vehicles per day near the property
» Prominently located in one of Winston-Salem’s primary retail corridors
» Near major retailers including, Lowe’s Foods, Walmart Supercenter, Sam’s Club, Lowe’s, Home Depot, McDonald’s, Chick-fil-A, and many others

STRONG CUSTOMER BASE IN SURROUNDING AREA
» Close to several major employers, including Hanesbrands (2,500 employees) and B/E Aerospace (1,500 employees)
» A number of schools are located in the area, including North Forsyth High School, which has a total enrollment of 1,212 students
» Surrounded by residential neighborhoods, with nearly 83,000 people living within a five-mile radius



Property Description

The property is conveniently located on University Parkway, with excellent visibility and access to 29,000 vehicles per day. The property enjoys immediate access to U.S. Highway 52, a busy transportation corridor with a traffic volume of 52,000 vehicles per day near the property. Prominently located in one of Winston-Salem’s primary retail corridors, the property is surrounded by large shopping centers and major national tenants. The property is directly across from North Summit Square Shopping Center, anchored by Sam’s Club, Lowes Foods, and Lowe’s. The property is also within walking distance of Oak Summit Shopping Center, anchored by Walmart Supercenter and featuring Anytime Fitness, Dollar Tree, Hibbett Sports, Marshalls, Chick-fil-A, PetSmart, and more. Other notable retailers near the property include Home Depot, Big Lots, Aldi, Sheetz, Walgreens, CVS, Aaron’s, McDonald’s, and many others.

The property benefits from a strong customer base in the surrounding area. Several major employers are located nearby, including Hanesbrands (2,500 employees) and B/E Aerospace (1,500 employees). A number of schools are located in the area, including North Forsyth High School, which has a total enrollment of 1,212 students. Additionally, the property is surrounded by residential neighborhoods, with nearly 83,000 people living within a five-mile radius.

Contact Us About This Property

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