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The Habit Burger Grill, Lexington, SC

The Habit Burger Grill, Lexington, SC


Investment Summary

Price $3,080,000
Cap Rate 5.00%
NOI $154,000
Lease Term 15 Years
Lease Type 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 after year 10
Year Built 2022
Building Size 2,700 SF
Lot Size 0.89 Acres (38,768 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

NEW 15-YEAR NNN LEASE
» 15-year NNN lease to The Habit Restaurants LLC
» The Habit Burger Grill has more than 330 locations and over $466 million in revenue
» 10% rental increases every five years after year 10
» NNN lease requires no landlord management, ideal for an out of area investor
» New 2023 construction featuring dedicated drive-thru for added customer convenience

INFILL LOCATION IN DENSE LEXINGTON RETAIL CORRIDOR
» Conveniently located along U.S. Route 378/Sunset Boulevard, with excellent visibility and access to 41,700 vehicles per day
» Convenient access to Interstate 20 (65,700 AADT)
» Adjacent to Lexington Marketplace, an upscale community shopping center anchored by Prisma Health and Hobby Lobby
» Surrounded by notable tenants such as Walmart Supercenter, Target, The Home Depot, Lowe’s Home Improvement, Kohl’s, Publix, ALDI, and many more
» Centrally located approximately two miles from Downtown Lexington and 10 miles from Downtown Columbia

DENSELY POPULATED AREA WITH EXCELLENT DEMOGRAPHICS
» 90,309 residents live within five miles of the property
» Average annual household income of $129,860 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 The Habit Burger Grill and Lexington for steady concurrent growth
» Lexington’s population has increased by over 166% since 2000
» Less than two miles from Lake Murray, a popular recreation area and one of the fastest growing residential areas in the Charlotte region

Property Description

» The property is conveniently located along U.S. Route 378/Sunset Boulevard, with excellent visibility and access to 41,700 vehicles per day
» Located in a dense retail corridor, the property is surrounded by notable tenants such as Walmart Supercenter, Target, The Home Depot, Lowe’s Home Improvement, Kohl’s, Publix, and ALDI
» This The Habit Burger Grill is adjacent to Lexington Marketplace, an upscale community shopping center anchored by Prisma Health and Hobby Lobby
» The site greatly benefits from its proximity two miles from Downtown Lexington and 10 miles from Downtown Columbia
» The location serves as a common gateway to Lake Murray, a popular recreation area and one of the fastest growing residential areas in the Charlotte region
» Projected population and income increase within 1-, 3-, and 5-mile radii over the next five years, poising The Habit Burger Grill and Lexington for steady concurrent growth

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