Bojangles Relo Store | Corp Guaranty | 15-Yr
2,500 SF | Retail Building | High Point, NC 27263 | $3,565,000 ($1,426/SF) | 5.90% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $3,565,000
- Property Type
-
Retail, Restaurant
- Square Feet
- 2,500 SF
- Price / Square Foot
- $1,426
Listing Contacts
Aron Cline
Verified Profile
Calvin Short
Verified Profile
Gary Chou
Verified Profile
Matt Coates
Verified Profile
Ransome Foose
Verified Profile
- Property Info
Property Overview
• New construction (2023) asset with Bojangles latest prototype
• Corporately guaranteed lease | Secure investment
• Just under 14 years remaining on the base term of the lease | Average CAP of 6.40% over the remaining base term, assuming purchase at List Price
• Coupon clipper asset | Absolute NNN lease | Zero Landlord responsibilities
• Relocation store | Bojangles recently moved a few parcels down the road to a signalized, hard corner location directly across the street
from a Walmart Supercenter-anchored shopping center, which should significantly improve sales
• Excellent access and visibility from Main St which boasts ±41,700 VPD
• Rapidly-growing concept | Bojangles opened 40 locations in 2023 and ended the year with over 270 units in its pipeline
• Ideal retail corridor | Site is adjacent to ALDI and a new Sam’s Xpress Car Wash while being directly across the street from a Walmart
Supercenter-anchored center | Walking distance to:
– Southwood Square Shopping Center | A Planet Fitness and Citi Trends-anchored center
– A Food Lion-anchored shopping center
– National tenants such as Walgreens, Burger King, Chipotle, Bank of America, AT&T, Verizon, Taco Bell, Wendy’s, Hibbett Sports, McDonald’s, among others
• Strong Hedge Against Inflation | There are 1.25% annual rent increases throughout the initial term and options, allowing the investment to keep up with rising market rents
• Bojangles is one of the most popular and fastest-growing quick service restaurant brands in the Southeast and operates over 830 restaurants throughout 17 states
– Ranked #4 in the Chicken Category by Entrepreneur Magazine
– Ranked #32 in QSR’s Top 50 Fast Food Chains
– Ranked #43 in Technomic’s Top 500
– Ranked #57 in Franchise Times’ Top 400
– Ranked #115 in Entrepreneur Magazine’s Top 500
– AUV of $2.2MM+
• Corporately guaranteed lease | Secure investment
• Just under 14 years remaining on the base term of the lease | Average CAP of 6.40% over the remaining base term, assuming purchase at List Price
• Coupon clipper asset | Absolute NNN lease | Zero Landlord responsibilities
• Relocation store | Bojangles recently moved a few parcels down the road to a signalized, hard corner location directly across the street
from a Walmart Supercenter-anchored shopping center, which should significantly improve sales
• Excellent access and visibility from Main St which boasts ±41,700 VPD
• Rapidly-growing concept | Bojangles opened 40 locations in 2023 and ended the year with over 270 units in its pipeline
• Ideal retail corridor | Site is adjacent to ALDI and a new Sam’s Xpress Car Wash while being directly across the street from a Walmart
Supercenter-anchored center | Walking distance to:
– Southwood Square Shopping Center | A Planet Fitness and Citi Trends-anchored center
– A Food Lion-anchored shopping center
– National tenants such as Walgreens, Burger King, Chipotle, Bank of America, AT&T, Verizon, Taco Bell, Wendy’s, Hibbett Sports, McDonald’s, among others
• Strong Hedge Against Inflation | There are 1.25% annual rent increases throughout the initial term and options, allowing the investment to keep up with rising market rents
• Bojangles is one of the most popular and fastest-growing quick service restaurant brands in the Southeast and operates over 830 restaurants throughout 17 states
– Ranked #4 in the Chicken Category by Entrepreneur Magazine
– Ranked #32 in QSR’s Top 50 Fast Food Chains
– Ranked #43 in Technomic’s Top 500
– Ranked #57 in Franchise Times’ Top 400
– Ranked #115 in Entrepreneur Magazine’s Top 500
– AUV of $2.2MM+
Property Details
- Year Built
- 2023
- Stories
- 1
- Property Subtype
- Freestanding
- Lot Size (sq. ft)
- 48,787 SF
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