x
By submitting, you're allowing YAFC Team to email you regarding available listings. You can unsubscribe anytime.

x

Chick-fil-A Ground Lease, Hickory, NC

Chick-fil-A Ground Lease

Price $2,466,000
Cap Rate 3.65%
NOI $90,000
Lease Term 20 Years
Lease Type Absolute NNN Ground Lease, with Tenant Responsible For All Taxes, Insurance, and Maintenance, Including Roof, Structure, and Parking Lot
Rental Increases 10% Rental Increases in Option Periods
Year Built 2015
Building Size 4,423 SF
Lot Size TBD
Status Available
Lead Broker Information Michael T. Yuras, CCIM
Cushman & Wakefield
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Senior Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Vincent Aicale
Cushman & Wakefield
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Cushman & Wakefield
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Investment Highlights

LONG-TERM ABSOLUTE NNN GROUND LEASE
» Chick-fil-A is the largest chicken chain and the third largest American fast food restaurant chain
» 10% fixed rental increases, providing a hedge against inflation
» No landlord management, making this an ideal opportunity for an out-of area investor

HARD-CORNER LOCATION IN DENSELY POPULATED AND GROWING NORTH CAROLINA SUBMARKET
» Hard-corner location at the signalized four-way intersection of 2nd Street Northeast and 13th Avenue Northeast (31,600 AADT)
» Convenient access to Tate Boulevard (22,000 AADT), increasing commuter traffic to the location
» 71,412 residents living within a five-mile radius of the location, providing a large customer base for the site
» Projected average annual household income increase of 10 percent within five miles of the site in the next five years, poising Chick-fil-A and Hickory for concurrent growth
» Surrounded by residential neighborhoods (eight apartment complexes within a one-mile radius)

CENTRAL LOCATION NEAR LARGE SCHOOLS, EMPLOYERS, AND COMMUNITY HUBS
» Surrounded by several national retailers, including Lowe’s Home Improvement, Starbucks, Wendy’s, Dunkin’, Jimmy John’s, Domino’s Pizza, Panera Bread, and many more, promoting crossover shopping to the location
» Across the street from Hickory High School (1,036 students), significantly improving lunchtime traffic
» Within walking distance of Lenoir-Rhyne University (2,303 students)
» One mile from Frye Regional Medical Center (355 beds, 1,454 employees)
» Beneficial proximity to popular recreational areas and community hubs, including Hampton Heights Golf Club, Glenn C. Hilton Jr. Memorial Park, and Lake Hickory

HIGH-QUALITY CONSTRUCTION
» Features dual-lane drive-thru
» All brick façade



Property Description

The property has a hard-corner location at the signalized four-way intersection of 2nd Street Northeast and 13th Avenue Northeast, which experiences 31,600 vehicles per day at the intersection. The site also maintains convenient access to Tate Boulevard (22,000 AADT), increasing commuter traffic to the location. The property benefits from its location in a populous and growing area, with 71,412 residents living within a five-mile radius of the site. The property is primed to grow along with the surrounding area, with a projected average annual household income increase of 10 percent within five miles of the site in the next five years. Eight apartment complexes reside within one mile of the location to accommodate a rapidly growing population.

The location also benefits from its proximity near large schools, employers, and community hubs. The property is surrounded by several national retailers, including Lowe’s Home Improvement, Starbucks, Wendy’s, Dunkin’, Jimmy John’s, Domino’s Pizza, Panera Bread, and many more, promoting crossover shopping to the location. The site is also across the street from Hickory High School (1,036 students), significantly improving lunchtime traffic. The site greatly benefits from being within walking distance of Lenoir-Rhyne University (2,303 students) and experiences increased visibility from its location one mile from Frye Regional Medical Center (355 beds, 1,454 employees). Additionally, the property maintains a beneficial proximity to popular recreational areas and community hubs, including Hampton Heights Golf Club, Glenn C. Hilton Jr. Memorial Park, and Lake Hickory.

Contact Us About This Property

JOIN OUR
EMAIL LIST
SUBSCRIBE
Receive Our Latest Single and Multi-Tenant Listings
close-link