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Restaurant

Bojangles's

688 S Andy Griffith Pkwy, Mount Airy, NC 27030

Listing Price: $1,500,000

Cap Rate
6.00%
Tenant Name
Bojangles's Opco LLC
Years Remaining On Lease
7.1
Gross SF
3,572
Guarantor
Corporate Guarantee
Rentable SF
3,572
Price/Gross SF
$419.93
Lease Type
Absolute Net
Rent Per Square Feet
$25.20

Investment Overview

OUTPARCEL TO LOWE’S & FOOD LION SHOPPING CENTER • The subject property is a 3,572 SF Bojangles with a drive thru with two points of entry on S Andy Griffith Pkwy (19,500 VPD) and is two miles from I-74 (21,000 VPD). • This Bojangles sits as an outparcel at the entrance of a 168,000 SF Lowe’s Home Improvement & Food Lion Anchored Shopping Center. • The property is surrounded by 2.6M SF of retail in a one-mile radius including Walmart, Tractor Supply, Big Lots, Harbor Freight and more. PIEDMONT TRIAD MSA • This Bojangles is located on Hwy 52 (39,500 VPD) 20 miles Northwest of downtown Winston-Salem and is part of the Piedmont Triad MSA. • The Triad is known as one of the primary manufacturing and transportation hubs of the southeastern U.S. and includes Greensboro, Winston-Salem and Highpoint, NC. • The Piedmont Triad has an estimated population of 1,611,243 making it the 33rd largest combined statistical area in U.S. • There are approximately 900,000 jobs in the Piedmont Triad. 7-YEAR CORPORATE NNN LEASE • The subject property has 7 years remaining on a 20-year Corporate Guaranteed NNN Lease. • Tenant is 100 percent responsible for all expenses including taxes, insurance, CAM, Roof and Structure. • There are two, Five-year options periods. • There is a five percent rent increase during the first, five-year option and 5.74 percent rent increase during the second, five-year option period. BOJANGLES • Bojangles is an American regional chain of fast-food restaurants that has been in business for 44 years. • Bojangles is headquartered in Charlotte, NC and has over 1000 stores in 12 states with 4,500+ employees. • Bojangles did $1.3 billion in system wide sales in 2019.

Investment Highlights

  • Seven Year NNN Corporate Lease
  • Bojangles has 1,000 Stores and 1.3B in Sales
  • Outparcel to Lowe's Food Lion Center
  • Piedmont Triad MSA
  • Located on Highway 52 (39,500 VPD)

Exclusively Listed By

  • Don McMinn

    Senior Managing Director Investments

    (678) 808-2762

    Email Don

    License(s): GA: 292036

    Atlanta

  • Marc E. Strauss

    Senior Vice President Investments

    (954) 245-3500

    Email Marc

    License(s): FL: BK 434908, FL: CQ1000281, CO: IA.100071129

    Fort Lauderdale

Broker of Record

  • Donald Gilchrist

    Senior Associate

    (919) 674-1104

    License(s) NC: 241055

    North Carolina

Listing Price: $1,500,000

Cap Rate
6.00%
Tenant Name
Bojangles's Opco LLC
Years Remaining On Lease
7.1
Gross SF
3,572
Guarantor
Corporate Guarantee
Rentable SF
3,572
Price/Gross SF
$419.93
Lease Type
Absolute Net
Rent Per Square Feet
$25.20

Investment Highlights

  • Seven Year NNN Corporate Lease
  • Bojangles has 1,000 Stores and 1.3B in Sales
  • Outparcel to Lowe's Food Lion Center
  • Piedmont Triad MSA
  • Located on Highway 52 (39,500 VPD)

Investment Overview

OUTPARCEL TO LOWE’S & FOOD LION SHOPPING CENTER • The subject property is a 3,572 SF Bojangles with a drive thru with two points of entry on S Andy Griffith Pkwy (19,500 VPD) and is two miles from I-74 (21,000 VPD). • This Bojangles sits as an outparcel at the entrance of a 168,000 SF Lowe’s Home Improvement & Food Lion Anchored Shopping Center. • The property is surrounded by 2.6M SF of retail in a one-mile radius including Walmart, Tractor Supply, Big Lots, Harbor Freight and more. PIEDMONT TRIAD MSA • This Bojangles is located on Hwy 52 (39,500 VPD) 20 miles Northwest of downtown Winston-Salem and is part of the Piedmont Triad MSA. • The Triad is known as one of the primary manufacturing and transportation hubs of the southeastern U.S. and includes Greensboro, Winston-Salem and Highpoint, NC. • The Piedmont Triad has an estimated population of 1,611,243 making it the 33rd largest combined statistical area in U.S. • There are approximately 900,000 jobs in the Piedmont Triad. 7-YEAR CORPORATE NNN LEASE • The subject property has 7 years remaining on a 20-year Corporate Guaranteed NNN Lease. • Tenant is 100 percent responsible for all expenses including taxes, insurance, CAM, Roof and Structure. • There are two, Five-year options periods. • There is a five percent rent increase during the first, five-year option and 5.74 percent rent increase during the second, five-year option period. BOJANGLES • Bojangles is an American regional chain of fast-food restaurants that has been in business for 44 years. • Bojangles is headquartered in Charlotte, NC and has over 1000 stores in 12 states with 4,500+ employees. • Bojangles did $1.3 billion in system wide sales in 2019.

Exclusively Listed By

  • Don McMinn

    Senior Managing Director Investments

    (678) 808-2762

    Email Don

    License(s): GA: 292036

    Atlanta

  • Marc E. Strauss

    Senior Vice President Investments

    (954) 245-3500

    Email Marc

    License(s): FL: BK 434908, FL: CQ1000281, CO: IA.100071129

    Fort Lauderdale

Broker of Record

  • Donald Gilchrist

    Senior Associate

    (919) 674-1104

    License(s): NC: 241055

    North Carolina

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