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Chick-fil-A Ground Lease, Franklin, NC

Chick-fil-A Ground Lease

Franklin, North Carolina

Price $3,521,000
Cap Rate 3.25%
NOI $114,425
Lease Term 15 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 Every Five (5) Years
Year Built 2021
Building Size 4,971 SF
Lot Size 2.5 Acres (108,900 SF)
Status Available
Lead Broker Information Vincent Aicale
Executive Managing Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Executive Managing Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Michael T. Yuras, CCIM
Vice Chairman
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

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

Investment Highlights

15-YEAR ABSOLUTE NNN GROUND LEASE WITH SCHEDULED RENTAL INCREASES AND DRIVE-THRU
» Chick-fil-A is the largest chicken chain and the third-largest American fast food restaurant chain
» 15-year absolute NNN ground lease with 10% fixed rental increases every five years, providing a hedge against inflation
» No landlord management, making this an ideal opportunity for an out-of-area investor
» Includes drive-thru for added customer convenience

HIGH-VISIBILITY LOCATION IN NORTH CAROLINA SUBMARKET
» Strategic, high-visibility location on Siler Road with immediate access to U.S. Route 23 /U.S. Route 441 (27,000 AADT)
» Outparcel to an ALDI-anchored shopping center currently under development
» Shadow-anchored by Walmart Supercenter with nearby local and national tenants such as Walgreens, Big Lots, Dunkin’, Wendy’s, McDonald’s, and more
» Only Chick-fil-A location within 20 miles of the site, greatly increasing local traffic to the property
» 57,040 residents living within a 15-mile radius of the location, providing a large customer base for the site
» Average annual household income of $67,347 within 15 miles of the site and projected to increase 11 percent by 2026, poising Chick-fil-A and Franklin for concurrent growth

ROBUST LOCATION NEAR LARGE SCHOOLS, ESTABLISHED EMPLOYERS, AND COMMUNITY HUBS
» Beneficial proximity to several high-density, single family developments
» Near large schools including, Franklin High School (900 students), Mountain View Intermediate School (645 students), and Macon County Middle School (625 students)
» Less than a mile from Southwestern Community College – Macon Campus (20-acre site with over 9,000 student’s system-wide)
» Two miles from Angel Medical Center (47 beds, 172 employees), one of the largest employers in the area
» Beneficial proximity to Macon County Airport and Jackson County Airport



Property Description

Chick-fil-A is strategically located on Siler Road with immediate access to U.S. Route 23 / U.S. Route 441, which experiences 27,000 vehicles per day near the site. The property is shadow-anchored by Walmart Supercenter, promoting crossover traffic to the location. Additionally, the property is surrounded by local and national tenants such as Walgreens, Big Lots, Dunkin’, Wendy’s, McDonald’s, and more. This is the only Chick-fil-A location within a 20-mile radius, greatly increasing local traffic to the area. The property benefits from its central location in a growing area. 57,040 residents live within a 15-mile radius with an average household income of $67,347, providing a stable customer base for the site. The average annual household income is projected to increase 11 percent by 2026, poising Chick-fil-A and Franklin for concurrent growth.

The property maintains an excellent location in a major North Carolina commuter corridor, with proximity to several high-density, single and multi-family developments. The site is located near large schools including, Franklin High School (900 students), Mountain View Intermediate School (645 students), and Macon County Middle School (625 students). Southwestern Community College – Macon Campus (a 20-acre site with over 9,000 student’s system-wide) is located less than a mile from the site. Franklin High School (900 students), Mountain View Intermediate School (645 students), and Macon County Middle School (625 students) are located near the property. The site is two miles from Angel Medical Center (47 beds, 172 employees), one of the largest employers in the area, and maintains beneficial proximity to Macon County Airport and Jackson County Airport.

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