Chick-Fil-A 4411 New Bern Ave

Investment Highlights

Corporate Guarantee From Strong Tenant Surrounded by Apartments and Retailers Raleigh MSA - A Top Growth Market in the Country

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 - 20 year ground lease provides next owner with zero landlord responsibilities - 10% rental increases in option periodsStrong Surrounding Demographics in High-Growth MA - Approximately 200k people live in a 5-mile radius - AAHI exceeds $100k in a 1-mile radius - Raleigh ranked as the 2nd fastest growing metro from 2010 to 2024Nearby Other Major Retailers and Apartments - The subject site is located on a Walmart (over 1.6M visits/yr) outparcel - Over 1.2MSF of retail space is located in a 1-mile radius, boasting a 1.3% vacancy rate - Approximately 1,173 apartments are located within 1-mile radiusNew Construction on Large Parcel - Newly built Chick-Fil-A with the double drive through prototype - The parcel has its own dedicated parking lot - Subject site is approximately 1.65 acresA Top Performing Market Nationally - Raleigh, NC ranked #3 in 2023 of best residential markets (Rocket Mortgage) - Raleigh forecasts a 44% job growth over the next 10 years (3.0% growth from 2021 to 2022) - Raleigh ranked #3 in bets place to live for 2023-2024 (U.S. News)

• Sale Type    Investment NNN
• Sale Conditions    1031 Exchange 1031 Exchange Ground Lease (Leased Fee) Build to Suit 1031 Exchange
• Property Type    Retail
• Property Subtype    Restaurant Restaurant General Retail Fast Food General Retail Freestanding General Retail Storefront Restaurant
• Building Size    4,504
• Building Class    B
• Year Built    2024
• Price    3,000,000
• Price Per SF    666
• Cap Rate    4.50
• NOI    135,000
• Tenancy    Single
• Building Height    1 Story
• Building FAR    0.06
• Land Acres    1.65 AC

• Bus Line
• Dedicated Turn Lane
• Signage