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

x

Contact Us

x

Phone: 916-403-1812

Email: McKenney.Houck@cushwake.com

Or contact us using the form below.


Chick-fil-A, King, NC

Chick-fil-A, King, NC


Investment Summary

Price $5,597,470
Cap Rate
NOI
Lease Term 15 years
Lease Type Absolute NNN, 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 4,985 SF
Lot Size 2.75 acres (119,790 SF)
Status Closed
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

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

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

Investment Highlights

NEW ABSOLUTE NNN LEASE TO ESTABLISHED QSR BRAND
» Chick-fil-A is the largest chicken chain in the United States with over 2,800 units
» Chick-fil-A generated $18.8 billion in U.S. system sales in 2022, up nearly 13% from 2021
» The highest-volume stand-alone location in 2022 generated $17 million
» Drive-thru locations average more than $8.5 million per unit
» Chick-fil-A restaurants average more than $8 million in sales annually among non-mall locations
» High-quality 2023 construction with 79 dedicated stalls on a large parcel (2.75-acres)

DESIRABLE QSR ASSET IN MAIN RETAIL CORRIDOR LOCATION WITH ACCESS TO 67K VEHICLES PER DAY
» Well-positioned along South Main Street with excellent visibility and access to 21,000 vehicles per day
» Prime location in a dense retail corridor near major tenants such as Walmart Supercenter, CVS, Walgreens, Food Lion, Advance Auto Parts, O’Reilly Auto Parts, Dollar General, and many others
» Location benefits from proximity to U.S. 52/John Gold Memorial Expressway (46,000 AADT), providing easy access to and from the area
» Beneficial proximity to Conrad Corners Apartments (60 units), Days Inn by Wyndham King/Winston Salem Area (66 rooms), and King Elementary School (406 students)

WELL-POSITIONED IN THE PIEDMONT TRIAD REGION WITH A POPULATION OF 1.7 MILLION
» Only Chick-fil-A location in the city with the nearest location nine miles away
» 26,137 residents within a five-mile radius, providing a reliable customer base
» Average annual household income of $74,884 within five miles and projected to increase 17% by 2027
» Approximately 15 minutes from Wake Forest University (8,950 students) and 35 miles from Piedmont Triad International Airport
» Well-positioned in the Piedmont Triad, a major hub for commerce in a 12-county region with 1.7 million people and boasting excellent transportation and educational facilities
» Gateway to Winston-Salem (250,320 residents) and 41 miles from Greensboro (298,263 residents)

Property Description

SOLD

» Exclusive City Location: The property serves as the only Chick-fil-A in King, with the nearest alternative situated nine miles away. This makes it the preferred destination for residents and visitors seeking their favorite Chick-fil-A experience
» High Traffic Location: Located on South Main Street, the site offers excellent visibility and access to a daily traffic volume of 21,000 vehicles. Its convenient proximity to the U.S. 52/John Gold Memorial Expressway, which sees an average daily traffic volume of 46,000 vehicles, ensures easy accessibility for customers traveling to and from King
» Strong Local Demographics: Within a five-mile radius, there is a customer base of 26,137 residents, with an average annual household income of $74,884. With a projected growth of 17% by 2027, this guarantees sustained growth and increased sales potential
» Gateway to Prominent Cities: Strategically positioned in the Piedmont Triad, a vibrant 12-county region with a population of 1.7 million, the location serves as a gateway to Winston-Salem (population 250,320). The region is known for exceptional transportation infrastructure, outstanding education facilities, and abundant business opportunities, providing access to a substantial customer base from neighboring cities
» Proximity to Captive Customers: The location benefits from its advantageous proximity to Days Inn by Wyndham King/Winston Salem Area (66 rooms) and King Elementary School (406 students). This offers access to a captive customer base and creates opportunities for increased patronage. Additionally, being within walking distance of Conrad Corners Apartments (60 units) and Brookdale Apartments taps into the nearby residential population, driving foot traffic to the location

Download OM Form

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