Restaurant
Corporate BJ’s Restaurant – Anchored by BJ’s Wholesale & Kohl’s
5707 Dillard Dr, Cary, NC 27511
Listing Price: $4,295,454
Cap Rate
5.78%
Tenant Name
BJ's Restaurant
Years Remaining On Lease
10.7
Guarantor
Corporate Guarantee
Rentable SF
7,500
Lease Type
Absolute Net
Rent Per Square Feet
$33.07
Investment Overview
5707 Dillard Dr, Cary, NC
Corporate BJ’s Restaurant – Anchored by BJ’s Wholesale & Kohl’s
Investment Highlights
- ABSOLUTE-NET GROUND LEASE | ZERO LANDLORD OBLIGATIONS: 11 Year Remaining on Initial 20-Year Absolute Net Lease (Zero Landlord Responsibilities)
- CONTRACTUAL RENT GROWTH | 5 % EVERY 5 YEARS: Four Renewal Options, Each 5 Years, With Fixed 5% Upward Adjustments At Each Term — Providing Predictable NOI Escalation.
- RECENT CONSTRUCTION | MODERN 7,500 SF RESTAURANT FOOTPRINT: Built In 2016 On A 2.06-Acre Pad, The Asset Is Well Suited For Restaurant Operations, Drive Thru, And Site Configuration.
- GROUND LEASE STRUCTURE MITIGATES OBSOLESCENCE RISK: Because The Tenant Bears All Site, Structure, And Maintenance Cost, The Landlord Is Insulated Against Cap Ex Volatility And Market-Style Deterioration.
- PREMIER MSA LOCATION | RALEIGH-CARY METRO STATISTICAL AREA: Asset Is Situated In One Of The Fastest-Growing And Strongest Performing Metros In The Southeast. The Raleigh-Cary MSA Counts ~1.5 Million Population And Benefits From Strong Economic Diversification And In-Migration.
- AFFLUENT & DENSE TRADE MARKET: Within 5 Miles, Population Of ~178,000 With Average Household Incomes Exceeding $108,900 — Providing Solid Consumer Density And Spending Power.
- CARY / WAKE COUNTY STRENGTHS: Cary, NC Is Recognized For High Educational Attainment (Over Two-Thirds Of Adults Hold A Bachelor's Degree Or Higher) And An Elevated Median Household Income (~$113,782)
- RTP / TECH CORRIDOR ADJACENT: Proximity To Research Triangle Park, Major Universities, And Tech Employers Enhances Daytime Traffic, Employment Base, And Demographic Tailwinds.
Exclusively Listed By
Broker of Record
-
Charles Gallagher
Senior Director, Market Leader- Washington D.C./Virgina/Maryland
Financing By
Restaurant
Corporate BJ’s Restaurant – Anchored by BJ’s Wholesale & Kohl’s
Listing Price: $4,295,454
Cap Rate
5.78%
Tenant Name
BJ's Restaurant
Years Remaining On Lease
10.7
Guarantor
Corporate Guarantee
Rentable SF
7,500
Lease Type
Absolute Net
Rent Per Square Feet
$33.07
Investment Highlights
- ABSOLUTE-NET GROUND LEASE | ZERO LANDLORD OBLIGATIONS: 11 Year Remaining on Initial 20-Year Absolute Net Lease (Zero Landlord Responsibilities)
- CONTRACTUAL RENT GROWTH | 5 % EVERY 5 YEARS: Four Renewal Options, Each 5 Years, With Fixed 5% Upward Adjustments At Each Term — Providing Predictable NOI Escalation.
- RECENT CONSTRUCTION | MODERN 7,500 SF RESTAURANT FOOTPRINT: Built In 2016 On A 2.06-Acre Pad, The Asset Is Well Suited For Restaurant Operations, Drive Thru, And Site Configuration.
- GROUND LEASE STRUCTURE MITIGATES OBSOLESCENCE RISK: Because The Tenant Bears All Site, Structure, And Maintenance Cost, The Landlord Is Insulated Against Cap Ex Volatility And Market-Style Deterioration.
- PREMIER MSA LOCATION | RALEIGH-CARY METRO STATISTICAL AREA: Asset Is Situated In One Of The Fastest-Growing And Strongest Performing Metros In The Southeast. The Raleigh-Cary MSA Counts ~1.5 Million Population And Benefits From Strong Economic Diversification And In-Migration.
- AFFLUENT & DENSE TRADE MARKET: Within 5 Miles, Population Of ~178,000 With Average Household Incomes Exceeding $108,900 — Providing Solid Consumer Density And Spending Power.
- CARY / WAKE COUNTY STRENGTHS: Cary, NC Is Recognized For High Educational Attainment (Over Two-Thirds Of Adults Hold A Bachelor's Degree Or Higher) And An Elevated Median Household Income (~$113,782)
- RTP / TECH CORRIDOR ADJACENT: Proximity To Research Triangle Park, Major Universities, And Tech Employers Enhances Daytime Traffic, Employment Base, And Demographic Tailwinds.
Investment Overview
5707 Dillard Dr, Cary, NC
Exclusively Listed By
Broker of Record
-
Charles Gallagher
Senior Director, Market Leader- Washington D.C./Virgina/Maryland
Financing By
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