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Longhorn 151 Saint Mark Ave 5,780 SF 100% Leased Retail Building Selma, NC 27576 $4,974,305 CAD ($860.61 CAD/SF) 5% Cap Rate
Investment Highlights
- Newly signed 10-year corporate ground lease with four 5-year extension options.
- Positioned in Eastfield, a major regional development anchored by Target and Academy Sports.
- Located in a high-growth trade area supported by over 27,600 residents and significant daytime employment.
- Absolute NNN lease with minimal landlord obligations and strong rental growth terms.
- Convenient access to I-95 and U.S. Highway 70 with combined traffic counts exceeding 63,000 VPD.
Executive Summary
This offering presents a rare opportunity to acquire a leased fee interest in a newly constructed, corporate-guaranteed LongHorn Steakhouse under a NNN ground lease structure. Located in Selma, North Carolina, within the growing Raleigh-Cary MSA, this asset features a brand-new 10-year lease with four 5-year extension options and scheduled 10% rental increases every five years. With minimal landlord responsibilities, this property provides a reliable, low-maintenance investment with inflation-hedged returns.
The subject property is strategically positioned within Eastfield, a 435-acre mixed-use development at the intersection of Interstate 95 and U.S. Highway 70 East. This dynamic regional corridor reports over 63,400 vehicles daily and hosts over 1 million square feet of complementary retail space along with business parks, multifamily, senior living, and hotel developments. Nearby tenants include Target, Marshalls, BJ’s Wholesale, Starbucks, Chick-fil-A, and McDonald’s, collectively driving consistent customer traffic. Located in an Opportunity Zone, this investment also offers potential tax benefits.
The subject property is strategically positioned within Eastfield, a 435-acre mixed-use development at the intersection of Interstate 95 and U.S. Highway 70 East. This dynamic regional corridor reports over 63,400 vehicles daily and hosts over 1 million square feet of complementary retail space along with business parks, multifamily, senior living, and hotel developments. Nearby tenants include Target, Marshalls, BJ’s Wholesale, Starbucks, Chick-fil-A, and McDonald’s, collectively driving consistent customer traffic. Located in an Opportunity Zone, this investment also offers potential tax benefits.
Property Facts
Sale Type
Investment NNN
Sale Condition
Ground Lease (Leasehold)
Property Type
Retail
Property Subtype
Restaurant
Building Size
5,780 SF
Building Class
B
Year Built
2026
Price
$4,974,305 CAD
Price Per SF
$860.61 CAD
Cap Rate
5%
NOI
$248,715 CAD
Percent Leased
100%
Building Height
1 Story
Building FAR
0.09
Lot Size
1.50 AC
Opportunity Zone
Yes
Zoning
COM - Commercial
Somewhat walkable
20/100
Exceptionally drivable
100/100
Not bikeable
10/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 12M12004W | Improvements Assessment | $4,264 CAD |
| Land Assessment | $127,911 CAD | Total Assessment | $132,174 CAD |
Property Taxes
Parcel Number
12M12004W
Land Assessment
$127,911 CAD
Improvements Assessment
$4,264 CAD
Total Assessment
$132,174 CAD
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Longhorn | 151 Saint Mark Ave
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