Bojangles,
Orangeburg, SC Investment Summary
| Price | $2,610,000 |
| Cap Rate | 5.50% |
| NOI | $143,500 |
| Lease Term | 15 Years |
| Lease Type | Absolute NNN Lease, With Tenant Responsible For All Taxes, Insurance, And Maintenance, Including Roof, Structure, And Parking Lot |
| Rental Increases | 7.5% Rental Increases Every Five (5) Years |
| Year Built | 2022 |
| Building Size | 2,858 SF |
| Lot Size | 0.89 Acres (38,768 SF) |
| Status | Available |
| Lead Brokers | 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
NEW 15-YEAR ABSOLUTE NNN LEASE
» 15-year absolute NNN lease to Bojangles’ Restaurants, Inc. (NASDAQ: “BOJA”)
» More than 780 locations and over $1.37 billion in system-wide sales
» 7.5% rental increases every five years
» Absolute NNN lease requires no landlord management, ideal for an out of area investor
» New 2022 construction featuring dedicated drive-thru for added customer convenience
INFILL LOCATION IN DENSE ORANGEBURG RETAIL CORRIDOR
» Conveniently located near the signalized hard corner of U.S. Route 178/Chestnut Street Northeast and State Road S-38-1637, with excellent visibility and access to 29,100+ vehicles per day
» Central location at the confluence of highly trafficked South Carolina thoroughfares, including U.S. Route 21 and U.S. Route 601 (combined 52,500 AADT)
» Adjacent to Prince of Orange Mall, attracting significant crossover shopping to the location
» Surrounded by notable tenants such as Walmart Supercenter, Lowe’s Home Improvement, T.J. Maxx, Tractor Supply Co., ALDI, and many more
» Beneficial proximity to South Carolina State University (2,900 students, 1,696 employees)
DENSELY POPULATED AREA WITH POSITIVE AND GROWING DEMOGRAPHICS
» 34,019 residents live within five miles of the property
» Average annual household income of $79,331 within a one-mile radius of the site
» Projected population and income increase within 1-, 3-, and 5-mile radii over the next five years, poising Bojangles and Orangeburg for steady concurrent growth
» Gateway to Downtown Columbia, the capital of South Carolina (population 134,057)
Property Description
» The property is conveniently located near the signalized hard corner of U.S. Route 178/Chestnut Street Northeast and State Road S-38-1637, with excellent visibility and access to 29,100+ vehicles per day
» Located in a dense retail corridor, the property is surrounded by notable tenants such as Walmart Supercenter, Lowe’s Home Improvement, T.J. Maxx, Tractor Supply Co., ALDI, and many more
» This Bojangles is adjacent to Prince of Orange Mall, attracting significant crossover shopping to the location
» The site greatly benefits from its proximity to South Carolina State University (2,900 students, 1,696 employees)
» The location serves as a common gateway to Downtown Columbia, the capital of South Carolina (population 134,057)
» Projected population and income increase within 1-, 3-, and 5-mile radii over the next five years poise Bojangles and Orangeburg for steady concurrent growth
