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7 Brew, Boone, NC

Investment Summary

Price $1,578,000
Cap Rate 6.50%
NOI $102,668
Lease Term 10 years
Lease Type Absolute NNN 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 2023
Building Size 520 SF
Lot Size 0.609 acres (26,528 SF)
Status Under Contract
Lead Brokers 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

Vincent Aicale
Vice Chairman
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Vice Chairman
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Investment Highlights

NEW 10-YEAR ABSOLUTE NNN LEASE TO RAPIDLY EXPANDING COFFEE CHAIN
» 10-year absolute NNN lease to rapidly growing coffee chain
» Arkansas-based 7 Brew was founded in 2016 and has since surpassed 150 stores open and operating in 25+ states, with the rights to over 3,000 units already sold to franchisees
» Leased to Brew Team TN, LLC, one of the largest 7 Brew franchisees in the entire system, with 31 stores open and operating, 8 stores currently under construction, and an additional 50 stores that will be opened in 2024
» 10% rental increases every five (5) years throughout the initial term and option periods
» No landlord management, making this an ideal opportunity for an out-of-area or passive investor

HIGH-VISIBILITY LOCATION IN BOONE’S MAIN RETAIL CORRIDOR
» Prime location on Blowing Rock Road, Boone’s primary retail corridor with access to 37,000 AADT directly in front of the site
» Less than one mile from Appalachian State University (21,253 students)
» Located next to Boone Mall, the city’s primary shopping center with 200,000 square feet of retail space, anchored by Belk, Hobby Lobby, T.J. Maxx, and HomeGoods
» Excellent proximity to major national tenants such as Walmart Supercenter, Harris Teeter, Publix Super Markets, Starbucks, Five Guys, Lowe’s, Food Lion, AutoZone, McDonald’s, Taco Bell, Burger King, and many more.

GROWING COLLEGE TOWN WITH EXCELLENT DEMOGRAPHICS
» 36,117 residents live within five miles of the property, establishing a reliable customer base for the site
» Projected income increases within 1-, 3-, and 5-mile radii over the next five years poise 7 Brew and Boone for steady concurrent growth
» The property is supported by a large student population, almost doubling the customer base for the site
» Infill location surrounded by Boone’s major traffic drivers and communal hubs

NEW 2023 CONSTRUCTION IN A TAX-FREE STATE
» New high-quality 2023 construction built to latest 7 Brew prototype
» Site features a dedicated dual-lane drive-thru for added customer convenience

Property Description

» This 7 Brew features a prime location on Blowing Rock Road, Boone, North Carolina’s primary retail corridor with access to 37,000 AADT directly in front of the site
» The site is strategically positioned than one mile from Appalachian State University (21,253 students)
» The property is located next to Boone Mall, the city’s primary shopping center with 200,000 square feet of retail space, anchored by Belk, Hobby Lobby, T.J. Maxx, and HomeGoods
» This 7 Brew location benefits from its proximity to major national tenants such as Harris
Teeter, Publix Super Markets, Starbucks, Five Guys, Walmart Supercenter, Lowe’s, Food Lion, AutoZone, McDonald’s, Taco Bell, Burger King and many more
» 36,117 residents live within five miles of the property, establishing a reliable customer base for the site
» Projected income increases within 1-, 3-, and 5-mile radii over the next five years poise 7 Brew and Boone for steady concurrent growth
» The property is supported by a large student population, almost doubling the customer base for the site
» Infill location surrounded by Boone’s major traffic drivers and communal hubs

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