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Views: 23 DOM: 57 Updated: 04.11.24 Posted: 03.21.24 Status: Active

Summary

Price $1,289,000
Built/Renov 1980
Tenant Dickey's Barbeque Pit
Cap Rate 6.50%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 2,858
Lease Start 10-09-2022
#Units 550
Price/SF $451.01
Expiration 10-08-2037
Tenant Type Casual Dining
NOI $83,813
R. Term 13.4
Ownership Fee Simple
Rent/SF $29.33
Increases 8.0%/3/yrs
Pop 5Mi 97,093
Lot/AC 0.86
Options 2/5yrs/8%
AHHI 5Mi $127,269

Lease Highlights

  • Dickey's Barbeque Pit has 13+ years remaining on the current lease term with 2 (5-year) options to extend
  • The lease features 8% rental escalations throughout the initial term and option periods
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Dickey's Barbecue Pit is strategically located on Burlington-Mount Holly Road, with access to 28,300 vehicles passing by daily. The property is conveniently situated near the intersection with Woodland Road, which sees a traffic count of 20,600 VPD. Nearby national tenants include McDonald’s, Dunkin’, Popeyes, ACME Markets, CVS, Wawa, and more. The 5-mile trade area is supported by a...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Dickey's Barbeque Pit
  • Guarantor:Corporate
  • Company:Dickey’s Capital Group
  • # Units:550
  • Stock:Private

About Tenant

Dickey's Barbecue Pit is a fast-casual restaurant franchise that serves beef brisket, pulled pork, pork ribs, Polish sausage, spicy cheddar sausage, hot link, and chicken. The restaurant chain...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 7,142 36,964 98,748
2023 Total Population : 7,183 37,189 97,942
2023 Employed Civilian Pop : 3,586 19,307 50,494
2023 Total Businesses : 183 1,292 2,707
2023 Average Household Income : $ 131,423 $ 124,846 $ 127,108
2023 Total Consumer Spending : $ 314 M $ 1504 M $ 4045 M
2023 Median Age : 42 39 42
2023 Total Households : 2,830 14,107 37,442
2023 Pop Age 25+: Bachelor's Degree : 1,568 7,261 18,680
2023 Average Home Value : $ 343,685 $ 355,139 $ 356,880
*ESRI data is presented for informational purposes only

Listing Broker

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