About This Restaurant
Investment Highlights
Attractive Lease Fundamentals Name Brand Tenant with New Drive-Thru Prototype High Earning Demographics
Executive Summary
Attractive Lease Fundamentals - 10 year lease provides next owner with stable cash flow for the next decade - 10% rental increases in primary term and in option periods - 3 x 5 year option periodsName Brand Tenant - Caribou Coffee has over 700 locations worldwide - Caribou Coffee is a subsidiary of Panera Brands (parent company of Panera Bread and Einstein Bagels)High Earning Demographics - Average household income exceeds $116K in a 3-mile radius - Over 17K people live within a 3-mile radiusEasily Accessible to Major Interstate - Subject site is located at a full access interchange on Hwy 801 (14.5K VPD) with access to Hwy 158 (13K VPD) - Half mile from I-40 (51.5K VPD) exit, which is a major logistics and commuter interstateNear Market Drivers - Atrium Health Wake Forest Baptist Davie Hospital (~0.8 miles) a 50 bed hospital - Approximately 2 miles to Bermuda Run Country Club, an 18 hole golf course, tennis and fitness centerNew Construction of ?Coffee Cabin? Prototype - New building with Caribou?s new Coffee Cabin Concept, which maximizes service efficiency, reduces cost, and increase profitability - New roof and structure with transferable warranties in place
Property Details
- Sale Type Investment NNN
- Property Type Retail
- Property Subtype Fast Food
- Building Size 534
- Year Built 2024
- Price 2,168,000
- Price Per SF 4,060
- Cap Rate 6.25
- NOI 135,500
- Percent Leased 100
- Building Height 1 Story
Date Created: | 2024-07-16 04:16:23 | Last Updated: | 2024-07-16 04:16:23 |
Address: | 130 Highway 801 S , Advance, North Carolina, 27006 |