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Restaurant

Hooters

3725 E Franklin Blvd, Gastonia, NC 28056

Listing Price: $1,598,960

Cap Rate
7.50%
Tenant Name
Hooters of Gastonia Inc.
Years Remaining On Lease
1.5
Guarantor
Franchisee Guarantee
Rentable SF
3,616
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$33.16

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for the Hooters Restaurant located at 3725 E Franklin Blvd in Gastonia, NC. The site presently consists of roughly 3,616 rentable square feet of building space on estimated 1.00-acre parcel of land. This Hooters is subject to a 20-year absolute triple-net (NNN) lease, which commenced in November 1998. The tenant is currently in their first option period. The current annual rent is $119,922 and is scheduled to increase by ten percent (10%) at the commencement of each of the three (3), five (5)-year renewal options. This presents a unique opportunity to acquire a legacy net lease asset with prime frontage along Franklin Blvd (~ 40,000 VPD), with irreplaceable real estate in an A+ corridor surrounded by institutional ownership.

Investment Highlights

  • Original Build-to-Suit With 23 Years of Operating History
  • NNN Lease With Full Corporate Guaranty
  • Hooters Has Recently Upgraded and Remodeled the Interior

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Vice President/Regional Manager

    (704) 831-4600

    License(s) NC: 303785

    North Carolina

Financing By

Listing Price: $1,598,960

Cap Rate
7.50%
Tenant Name
Hooters of Gastonia Inc.
Years Remaining On Lease
1.5
Guarantor
Franchisee Guarantee
Rentable SF
3,616
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$33.16

Investment Highlights

  • Original Build-to-Suit With 23 Years of Operating History
  • NNN Lease With Full Corporate Guaranty
  • Hooters Has Recently Upgraded and Remodeled the Interior

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for the Hooters Restaurant located at 3725 E Franklin Blvd in Gastonia, NC. The site presently consists of roughly 3,616 rentable square feet of building space on estimated 1.00-acre parcel of land. This Hooters is subject to a 20-year absolute triple-net (NNN) lease, which commenced in November 1998. The tenant is currently in their first option period. The current annual rent is $119,922 and is scheduled to increase by ten percent (10%) at the commencement of each of the three (3), five (5)-year renewal options. This presents a unique opportunity to acquire a legacy net lease asset with prime frontage along Franklin Blvd (~ 40,000 VPD), with irreplaceable real estate in an A+ corridor surrounded by institutional ownership.

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Vice President/Regional Manager

    (704) 831-4600

    License(s): NC: 303785

    North Carolina

Financing By

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