Chick-fil-A 957 N Wendover Rd

957 N Wendover Rd , Charlotte, North Carolina, 28211 | 3,000 sq.f | $ 2,875,000

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About This Restaurant

Investment Highlights

Attractive Lease Fundamentals - Abs. NNN - Ground Lease New Construction W/ Double Drive Thru Prototype Strong Demographics in High Growth MSA

Executive Summary

Corporate Guarantee from Strong Tenant - Chick-Fil-A currently operates over 3,000 locations - Employs over 200,000 people - 2022 U.S. system sales totaled $18.8B (up 13% from 2021) - 3rd Largest fast-food chain in the country by sales volume (QSR Magazine)Attractive Lease Fundamentals - Fifteen year ground lease provides next owner with zero landlord responsibilities - 8% rental increases every 5 years during initial term - 10% rental increases in each option periodStrong Surrounding Demographics in High-Growth MSA - Over 10K people live in a 1-mile radius - AHHI exceeds $110K in a 1-mile radius - Charlotte, NC ranked 5th in largest population growth from 2021-2022Well Located In Rapidly Growing Sub-Market - Over 805K SF of retail space and 2,000 apartments are located within 1-mile radius - Over 22K SF of retail has been absorbed in TTM - Other nearby national retailers include: The Home Depot, McDonald?s, and 7-ElevenNew Construction W/ Double-Drive Thru Prototype - Newly built Chick-Fil-A with the double-drive through prototype - The parcel has its own dedicated parking lot A Top Performing Market Nationally - Charlotte, NC ranked #5 in 2022 of best residential markets (Rocket Mortgage) - Charlotte forecasts a 45.2% job growth over the next 10 years (4.6% growth from 2021 to 2022) - 5th fastest growing city from 2021 to 2022 (population change: 15,217)

Property Details

  • Sale Type    Investment NNN
  • Property Type    Retail
  • Property Subtype    Fast Food Fast Food General Retail Freestanding General Retail Restaurant General Retail Storefront Fast Food
  • Building Size    3,000
  • Building Class    B
  • Year Built    2023
  • Price    2,875,000
  • Price Per SF    958
  • Cap Rate    4
  • NOI    115,000
  • Tenancy    Single
  • Building Height    1 Story
  • Building FAR    0.06
  • Land Acres    1.10 AC

Amenities

  • Drive Thru
Date Created: 2024-07-16 04:16:23 Last Updated: 2024-07-16 04:16:23
Address: 957 N Wendover Rd , Charlotte, North Carolina, 28211