REIT Sale | Former Hardee’s | Food Lion Adjacent | 10K VPD | 1.05 Acres

Highlights:

• Freestanding Former QSR with Drive-Thru | Food Lion and O’Reilly Outparcel
• 10,941 VPD Traffic Count Frontage and Visibility along S Main St at Signalized Intersection
• Located at Entrance to Shopping Center Anchored by Food Lion, Family Dollar, Burger King, and O’Reilly Auto Parts
• Across Street from Walgreens and Fifth Third Bank; 60 Minutes to Boone, NC; 75 Minutes to Winston-Salem, NC
• Zoned NB, Neighborhood Business with a Variety of Commercial Uses
• Absolute $1 Auction – NO RESERVE!

Description:

RI Marketplace Online Auction June 23-25, 2025
Register to bid on Marketplace:

https://rimarketplace.com/auction/2508/reit-sale-former-hardee-s-food-lion-adjacent-10k-vpd-1.05-acres?utm_source=brevitas&utm_medium=listing&utm_campaign=external&utm_content=retail_2508

Marcus & Millichap and RI Marketplace are pleased to present a vacant, free-standing retail building located at 417 S Main Street, Sparta, Alleghany County, NC, 28675 (the “Property”). Formerly occupied by Hardee’s, the Property is being offered significantly below replacement cost, presenting an excellent opportunity for owner-users or investors to acquire a highly visible, strategically positioned Food Lion outparcel at a compelling basis. FIRST BID MEETS RESERVE!

Built in 1983, the Property comprises a one-story, ±3,660-square-foot free-standing retail building situated on ±45,862 square feet (±1.0529 acres), with a drive-thru and 53 total surface parking spaces. The site is located at a signalized intersection and features four points of ingress/egress, with ±217’ feet of frontage along S Main Street, which sees ±10,941 vehicles per day (VPD). The Property was previously leased to Hardee’s on a triple-net (NNN) basis. It presents a value-add opportunity through lease-up at long-term market rates (CoStar estimated rent of $14/SF NNN Retail). Zoned NB, Neighborhood Business District, the Property allows for a wide variety of commercial uses, appealing to a broad range of end-users. The Property’s location within a designated Federal Opportunity Zone further enhances its appeal by offering significant tax incentives for qualified investors.

Strategically located in Sparta, NC, the primary commercial and service hub of Alleghany County, the Property benefits from excellent visibility and access along S Main Street (US-21), the town’s main north-south corridor, with ±10,941 vehicles per day (VPD). The site serves as an outparcel to a daily-needs retail center anchored by Food Lion, O’Reilly Auto Parts, and Family Dollar, ensuring steady consumer traffic and strong crossover exposure. Regional connectivity is bolstered by direct access to US-21 and NC-18, linking Sparta to larger markets including Boone (±40-mi SW), Winston-Salem (±70-mi SE), and Galax, VA (±15-mi N). The surrounding trade area features a mix of essential community services, including Sparta Elementary School, Alleghany High School, and Alleghany Health, providing consistent daytime traffic from students, healthcare staff, and local residents. In addition to retail anchors, the immediate area supports a variety of small businesses, medical offices, and civic institutions that drive daily visitation. The 10-mile trade area encompasses nearly 14,500 residents, with an average household income of ±$69,000, providing a reliable customer base for service-oriented and essential retail uses. Sparta’s role as the county seat and central business district reinforces demand, while the surrounding residential neighborhoods and steady tourist visitation to the Blue Ridge Parkway and New River contribute to year-round activity. With its high-traffic frontage, regional accessibility, and established retail co-tenancy, the Property is well-positioned for owner-users and investors seeking to capitalize on Sparta’s stable, service-driven commercial corridor.

Jerry E. King
King Auction & Realty Co., Inc.
License: 1010
NC Broker’s license: 22778

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