Chili's (GL)

7704 Charlotte Highway, Indian Land, SC 29707

$2,309,050

Cap Rate 5.75%

Views: 16 DOM: 27 Updated: 04.20.24 Posted: 04.20.24 Status: Active

Summary

Price $2,309,050	Built/Renov 2019	Tenant Chili's (GL)
Cap Rate 5.75%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 4,468	Lease Start 05-27-2019	#Units 1,605
Price/SF $516.80	Expiration 12-31-2029	Tenant Type Casual Dining
NOI $132,770	R. Term 5.7	Ownership Ground Lease
Rent/SF $29.72	Increases 10.0%/5/yrs	Pop 5Mi 70,141
Lot/AC 2.02	Options 4/5yrs/10%	AHHI 5Mi $151,707

Lease Highlights

Chili’s has 5+ years remaining on the current ground lease term with 4 (5-year) options to extend
The lease features 10% rental escalations at the start of each option period
Absolute NNN | Zero landlord responsibilities
Corporate guarantee | Investment grade tenant

Location Description

Chili's is strategically located at the signalized, hard corner intersection of Charlotte Highway/US-521 and Jim Wilson Road, with access to a combined daily traffic count of 37,300 vehicles. The property functions as an outparcel to a super-regional Charlotte MSA power center, The Promenade at Carolina Reserve, featuring well-known national retailers such as Ross Dress for Less, T.J. Maxx,...

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Key Features

Signalized intersection
Hard corner intersection
Dense retail corridor
Near major nationals
Shopping Ctr out-parcel
Highway location
Affluent AHHI $100K 5 Mi
Absolute NNN
Traded and rated company
Corporate Guarantee

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Links

Chili's Wikipedia Chili's Wikipedia Indian Land, South Carolina Zip Code 29707 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Chili's
Guarantor:Corp T and Rated
Company:Brinker International, Inc.
# Units:1,605
Tenant S&P: BB-
Moody’s: Ba3
Stock: NYSE: EAT

About Tenant

Chili’s Grill & Bar is an American casual dining chain serving American food, Tex-Mex cuisine, and Mexican-inspired dishes. Founded in 1975 on the corner of Greenville Avenue and Meadow Road in...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	6,421	30,534	74,233
2023 Total Population :	6,062	28,601	69,872
2023 Employed Civilian Pop :	1,988	10,461	29,601
2023 Total Businesses :	137	359	1,129
2023 Average Household Income :	$ 126,398	$ 138,697	$ 151,654
2023 Total Consumer Spending :	$ 281 M	$ 1401 M	$ 3232 M
2023 Median Age :	51	48	41
2023 Total Households :	2,611	11,854	25,015
2023 Pop Age 25+: Bachelor's Degree :	1,418	7,726	17,876
2023 Average Home Value :	$ 394,377	$ 395,336	$ 450,154

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Van Wyck Rd	Charlotte Hwy	2014	1,300	0.50 mi
Jim Wilson Road	Roxbourgh St	2021	6,600	0.76 mi
Jim Wilson Road	Dale Ln	2022	6,500	0.76 mi
Shelley Mullis Road	Rising Sun Ln	2022	6,700	1.45 mi
Charlotte Highway	Charles Pettus Rd	2021	21,400	1.47 mi
Charlotte Highway	Van Wyck Rd	2022	20,500	1.47 mi
Doby Bridge Rd	Dave Williams Rd	2017	5,400	1.83 mi
Dobys Bridge Road	Dave Williams Rd	2022	10,400	1.87 mi
Charlotte Highway	Matter Ln	2022	30,800	1.88 mi
Waxhaw Hwy	Cross Creek Ests Rd	2017	5,800	2.42 mi

Listing Broker

Thomas Carr

CBRE: NLP Atlanta

Contact

125 Listings
6081 Views
44 Sold

Chris Bosworth

CBRE

Contact

121 Listings
5962 Views
43 Sold

Thomas Carr

Thomas Carr is an Senior Investment Sales Analyst with CBRE’s Net Lease Property Group. As a member of the team led by Chris Bosworth and Will Pike, Mr. Carr plays an integral role in all aspects of the group’s property valuation, underwriting, and marketing efforts. He is also actively involved in marketing the team’s disposition assignments, specializing in single-tenant assets, national net-lease portfolios, and corporate sale-leasebacks, as well as advising 1031 exchange buyers. Mr. Carr

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Chris Bosworth

Chris Bosworth is a Vice Chairman and Managing Director of the CBRE Net Lease Property Group and Corporate Capital Markets practice. Mr. Bosworth’s focus is to advise institutions, private equity firms, REITs, developers and corporate users regarding all facets of net-leased properties. In his career, Mr. Bosworth and his partners, Will Pike and Brian Pfohl, have been responsible for the disposition of 3,900 transactions valued in excess of $29 billion. Mr. Bosworth and Mr. Pike co-head the

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Brian Pfohl

CBRE: NLP Atlanta

Contact

122 Listings
6004 Views
41 Sold

Brian Pfohl

Brian Pfohl is an Executive Vice President with CBRE’s Net Lease Property and Corporate Capital Markets practice groups. Mr. Pfohl’s singular focus is to advise corporate users, institutions, private equity firms, REITs, developers, and private individuals regarding all facets of net-leased properties. Mr. Pfohl’s expertise stems from the myriad of sale-leaseback transactions, net lease investment sales, programmatic portfolio dispositions, and advisement assignments he has completed throughout

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