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Slim Chickens, Columbia, SC

Slim Chickens, Columbia, SC


Investment Summary

Price $3,139,000
Cap Rate 6.35%
NOI $199,302
Lease Term 20 years (19 years remaining)
Lease Type Absolute NNN lease, with tenant responsible for all taxes, insurance, and maintenance, including roof, structure, and parking lot
Rental Increases 5% every five (5) years in initial period and option periods
Year Built 2022
Building Size 3,892 SF
Lot Size 1.11 acres (48,351 SF)
Status Available
Lead Brokers 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

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

20-YEAR ABSOLUTE NNN LEASE WITH STRONG GUARANTEES
» 20-year absolute NNN lease with 5% scheduled rental increases every 5 years throughout the lease and option periods
» Slim Chickens is a fast-growing food brand with 181 locations across the United States
» Break Bread Ventures is a rapidly growing franchisee that has signed a franchise agreement to open 30 Slim Chickens locations in NC, SC, and VA
» Zero landlord management responsibilities, making this asset ideal for an out-of-area investor

WALMART OUTPARCEL ON A MAJOR RETAIL CORRIDOR
» Prominent location outparcel to Walmart Supercenter on Garners Ferry Road with 47,900 vehicles per day passing directly in front of the property
» Garners Ferry Road is a major retail corridor with major national retailers including Lowe’s, Tractor Supply Company, CVS, AutoZone, O’Reilly Auto Parts, ALDI, Chick-fil-A, Murphy USA, Taco Bell, Firestone, McDonald’s, and several others
» The subject property has convenient access to Interstate 77 with 85,500 vehicles per day passing by the property

CENTRAL LOCATION IN GROWING COLUMBIA, SC MARKET
» Strong location in Core Columbia Market just six miles from Downtown Columbia and the University of South Carolina, which has 53,000+ students and faculty, generates $6.2 billion in annual economic impact, and is associated with 63,689 jobs
» The surrounding area is affluent with an average household income over $97,000 within five miles of the property and is expected to grow by 12% over the next five years, poising Slim Chickens and Columbia for strong concurrent growth
» Slim Chickens has a strong immediate customer base with 89,000 residents living within five miles of the property

BRAND NEW HIGH-QUALITY 2022 CONSTRUCTION FEATURING A DUAL-LANE DRIVE-THRU
» Brand new 2022 construction to tenant’s latest prototype featuring a dual-lane drive-thru and pylon sign for additional visibility on Garners Ferry Road

Property Description

» 20-year absolute NNN lease with 5%scheduled rental increases every five years throughout the lease and option periods
» Prominent location outparcel to Walmart Supercenter on Garners Ferry Road with 47,900 vehicles per day passing directly in front of the property
» Strong location in Core Columbia Market just six miles from Downtown Columbia and the University of South Carolina, which has 53,000+ students and faculty, generates $6.2 billion in annual economic impact, and is associated with 63,689 jobs
» Slim Chickens is a fast-growing food brand with 181 locations across the United States
» Garners Ferry Road is a major retail corridor with major national retailers including Lowe’s, Tractor Supply Company, CVS, AutoZone, O’Reilly Auto Parts, ALDI, Chick-fil-A, Murphy USA, Taco Bell, Firestone, McDonald’s, and several others
» Brand new 2022 construction to tenant’s latest prototype featuring a dual-lane drive-thru and pylon sign for additional visibility on Garners Ferry Road

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