HWY 55,
Shallotte, NC Investment Summary
| Price | $3,045,000 |
| Cap Rate | 6.00% |
| NOI | $182,700 |
| Lease Term | 20 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 | 2,406 SF |
| Lot Size | 0.91 acres (39,640 SF) |
| Status | Under Contract |
| 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 Jack Hinson Brokerage 704.572.9921 jack.hinson@cushwake.com CA RE License #02059267 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 20-YEAR CORPORATE ABSOLUTE NNN LEASE WITH FOUNDER GUARANTY
» New 20-year absolute NNN lease with 10% rental increases every five years
» No landlord management, ideal for an out-of-area investor
» HWY 55 was named a top 500 franchise in the United States by Entrepreneur magazine and a Next 20 restaurant brand by Nation’s Restaurant News
STRONG DEVELOPMENT AREA NEAR PROMINENT RETAILERS
» High-visibility and easily accessible location on Main Street (12,500 AADT) right off Highway 17/Ocean Highway West (35,000 AADT)
» Situated close to a recently opened Chick-fil-A with proximity to prominent retailers such as Walmart Supercenter, The Home Depot, Walgreens, Belk, Hobby Lobby, Harbor Freight, and more, allowing the site to capture significant crossover traffic
» Near large educational institutions including West Brunswick High School (1,432 students), Shallotte Middle School (672 students), and Brunswick Community College (1,553 students)
» For the second year in a row, SmartAsset selected Brunswick Community College as the Best Community College in America
STRATEGIC LOCATION POISED FOR CONTINUOUS GROWTH IN ONE OF THE FASTEST GROWING COUNTIES IN NORTH CAROLINA
» 15,600 residents live within five miles of the property (11% growth since 2010), providing a stable customer base for the site
» Average annual household income of $76,406 within three miles
» Projected population and income increases within 1-, 3-, and 5-mile radii over the next five years poise HWY 55 and Shallotte for steady concurrent growth
» Excellent location in Brunswick County, one of the fastest growing counties in North Carolina
NEW 2023 CONSTRUCTION
» New high-quality 2023 construction built to latest HWY 55 prototype
» Site features a dual-lane drive-thru for added customer convenience
Property Description
» This HWY 55 has a high-visibility and easily accessible location on Main Street (12,500 AADT), right off Highway 17/Ocean Highway West (35,000 AADT), a vital roadway connecting many coastal cities and a popular route for road trips
» The site greatly benefits from its proximity to Myrtle Beach, a popular resort city with over 35,000 permanent residents and over 19 million visitors annually
» The property is near large shopping centers featuring prominent retailers such as Walmart Supercenter, The Home Depot, Chick-fil-A, Walgreens, Belk, Hobby Lobby, Harbor Freight, and many more allowing the site to capture significant crossover traffic
» The site is well-positioned near community hubs and ideally situated close to large educational institutions, including West Brunswick High School (1,432 students), Shallotte Middle School (672 students), and Brunswick Community College (1,553 students)
» The population and income are projected to increase within 1-, 3-, and 5-mile radii over the next five years
» The property is in an excellent location in Brunswick County, one of the fastest-growing counties in North Carolina
