Chili's Grill & Bar: Indian Land, SC 7704 Charlotte Hwy

Investment Highlights

Chili?s absolute NNN ground lease features ?5.7 years of term remaining and a 10% rental increase in each of the four 5-year renewal options Positioned approximately 25 miles south of Downtown Charlotte Immediately across Charlotte Highway from the Sun City Carolina Lakes 55+ resort-style community and the Harris Teeter-anchored Carolina Commons This Chili?s restaurant is a strong performer with a very attractive rent-to-sales ratio (below 5%) The property is an outparcel to a super-regional Charlotte MSA power center?The Promenade at Carolina Reserve 2.7 MSF of retail, 2.1 MSF of office, 1.3 MSF of industrial and 2,806 multifamily units within a 5-mile radius

Executive Summary

The CBRE Net Lease Property Group is pleased to offer for sale a ?5.7-Year absolute NNN Chili?s Grill & Bar ground Lease situated on 2.02 acres in Indian Land, South Carolina ? part of the Charlotte-Concord-Gastonia, NC-SC MSA (MSA Population: 2.79M+). Commenced in 2019, Chili?s lease features a 10% rent increase in each of the four 5-year renewal options. Positioned approximately 20 miles south of Downtown Charlotte, Chili?s 4,468-square-foot building is located with excellent access and visibility along Charlotte Highway / US-521 (30,800 VPD), just feet from its intersection with Jim Wilson Road (6,500 VPD). The property is an outparcel to The Promenade at Carolina Reserve (221,054 SF). The center features major retailers like Ross Dress for Less, T.J. Maxx, Burlington, HomeGoods, Hobby Lobby, Kirkland?s, Hibbett Sports, Five Below, ULTA Beauty, Petco and Dollar Tree and is surrounded by additional retailers, including Starbucks, Habit Burger, Panera Bread, Taco Bell and Mavis Tires & Brakes, to name a few. According to Placer.ai, The Promenade at Carolina Reserve has welcomed 370,000+ visitors across 2.3 million visits over the past 12 months (Placer.ai), drawing significant traffic to the site. Chili?s is immediately across Charlotte Highway from the 3,160-home Sun City Carolina Lakes 55+ resort-style community and the Harris Teeter-anchored Carolina Commons (90,000 SF), including CVS, Truist, The UPS Store, Great Clips, Wendy?s, Zaxby?s, and Papa John?s Pizza, to name a few.

• Sale Type    Investment NNN
• Property Type    Retail
• Property Subtype    Restaurant
• Building Size    4,468
• Building Class    B
• Year Built    2019
• Price    2,309,050
• Price Per SF    517
• Cap Rate    5.75
• NOI    132,770
• Tenancy    Single
• Building Height    1 Story
• Building FAR    0.05
• Land Acres    2.02 AC