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Restaurant

Corporate Bojangle's Sublease to Purple Onion

3318 Rainbow Dr, Rainbow City, AL 35906

Listing Price: $2,184,075

Cap Rate
8.00%
Tenant Name
Bojangles / Purple Onion
Years Remaining On Lease
5.5
Guarantor
Corporate Guarantee
Rentable SF
4,090
Lease Type
Absolute Net
Rent Per Square Feet
$42.72

Investment Overview

The Deltondo Group and Marcus & Millichap are pleased to present for sale Corporate Bojangles subleased to Purple Onion a single-tenant property located at 3318 Rainbow Drive, Rainbow City, AL 35906. The lease is backed by a Bojangles corporate guaranty with 4.75 Years of reamaining term. The absolute-net lease has 1.50% annual increases. Subject Property is situated on Rainbow Drive which passed by over 28,150 vehicles per day. ? A great opportunity to re-tenant or redevelop in under 5 years. A large 4,090 SF building on a 1.52 acre lot with drive-thru. Subject Property is surrounded by many national tenants such as: BigLots!, Winn Dixie, Publix, Goodwill, CVS, Honey Baked Ham, Dollar General, Dollar Tree, Sonic, Wendy's, Burger King, and Many More.

Investment Highlights

  • Absolute-Net Lease (Zero Landlord Responsibilities): 4.75 Years Remain with 1.50% Annual Increases.
  • Corporate Guaranty: While Subleased to The Purple Onion the Absolute-Net Lease is Backed by a Bojangles Corporate Guaranty.
  • Redevelopment / Re-Tenant Opportunity: 4,090 SF Building with Drive-Thru and excellent parking in Desirable Location.

Broker of Record

  • Eddie Greenhalgh

    Senior Vice President Investments

    (205) 510-9200

    License(s) AL: 0000882980

    Alabama

Restaurant

Corporate Bojangle's Sublease to Purple Onion

Listing Price: $2,184,075

Cap Rate
8.00%
Tenant Name
Bojangles / Purple Onion
Years Remaining On Lease
5.5
Guarantor
Corporate Guarantee
Rentable SF
4,090
Lease Type
Absolute Net
Rent Per Square Feet
$42.72

Investment Highlights

  • Absolute-Net Lease (Zero Landlord Responsibilities): 4.75 Years Remain with 1.50% Annual Increases.
  • Corporate Guaranty: While Subleased to The Purple Onion the Absolute-Net Lease is Backed by a Bojangles Corporate Guaranty.
  • Redevelopment / Re-Tenant Opportunity: 4,090 SF Building with Drive-Thru and excellent parking in Desirable Location.

Investment Overview

The Deltondo Group and Marcus & Millichap are pleased to present for sale Corporate Bojangles subleased to Purple Onion a single-tenant property located at 3318 Rainbow Drive, Rainbow City, AL 35906. The lease is backed by a Bojangles corporate guaranty with 4.75 Years of reamaining term. The absolute-net lease has 1.50% annual increases. Subject Property is situated on Rainbow Drive which passed by over 28,150 vehicles per day. ? A great opportunity to re-tenant or redevelop in under 5 years. A large 4,090 SF building on a 1.52 acre lot with drive-thru. Subject Property is surrounded by many national tenants such as: BigLots!, Winn Dixie, Publix, Goodwill, CVS, Honey Baked Ham, Dollar General, Dollar Tree, Sonic, Wendy's, Burger King, and Many More.

Broker of Record

  • Eddie Greenhalgh

    Senior Vice President Investments

    (205) 510-9200

    License(s): AL: 0000882980

    Alabama

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