Slim Chickens

948 Concord Pkwy N, Concord, NC 28027

$3,567,000

Cap Rate 6.35%

Views: 15 DOM: 50 Updated: 04.22.24 Posted: 03.27.24 Status: Active 03.27.24

Summary

Price $3,567,000	Built/Renov 1999/2023	Tenant Slim Chickens
Cap Rate 6.35%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 4,081	Lease Start 08-01-2023	#Units 30
Price/SF $874.05	Expiration 08-01-2043	Tenant Type Fast Casual/Rest.
NOI $226,512	R. Term 19.2	Ownership Fee Simple
Rent/SF $55.50	Increases 5.0%/5/yrs	Pop 5Mi 103,982
Lot/AC 1.10	Options 3/5yrs/5%	AHHI 5Mi $87,446

Lease Highlights

New high-quality 2023 renovation
Brand-new 20-year lease with 3 (5-year) options to extend
Lease features 5% rental increases every 5 years
Absolute NNN lease | Zero landlord responsibilities
Franchise guaranteed by Break Bread Ventures, LLC & Two Personal guarantees (Robert P. Bryan & Jonathan Crumpler)

Location Description

Slim Chickens is conveniently located with excellent access and visibility along Concord Parkway North with 31,500 vehicles passing by daily. The subject property is positioned as an outparcel to Lowe's Home Improvement. It is situated in a dense retail corridor surrounded by various national retailers and down the street from the Carolina Mall. The property's location is also within proximity...

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Key Features

Signalized intersection
New prototype
Recent renovation
Near major nationals
Shopping Ctr out-parcel
Dense 100M+ pop 5 mi
Top 100 MSA
Affluent suburb location
Brand new lease
25+ unit franchisee backed

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Links

Slim Chickens Wikipedia Slim Chickens Wikipedia Concord, North Carolina Zip Code 28027 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Slim Chickens
Guarantor:Franchisee
Company:Break Bread Ventures, LLC
# Units:30
Stock:Private

About Tenant

Slim Chickens fast-casual restaurant chain that specializes in hand-breaded chicken tenders, wings, chicken and waffles, chicken sandwiches, salads, wraps and more. In 2003, the first corporate...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	6,650	55,879	117,966
2023 Total Population :	6,215	52,427	110,823
2023 Employed Civilian Pop :	3,335	25,640	53,583
2023 Total Businesses :	490	2,537	4,007
2023 Average Household Income :	$ 75,916	$ 83,002	$ 91,903
2023 Total Consumer Spending :	$ 172 M	$ 1502 M	$ 3465 M
2023 Median Age :	34	37	39
2023 Total Households :	2,585	20,754	43,499
2023 Pop Age 25+: Bachelor's Degree :	815	7,266	15,987
2023 Average Home Value :	$ 282,629	$ 297,096	$ 306,801

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
US 29-601	Minnie Ave NW	2020	20,000	0.04 mi
Concord Parkway North	Porter Ave	2018	22,000	0.07 mi
Central Dr NW	Porter Ave	2018	11,500	0.15 mi
Davidson Hwy	Summercreek Ln NW	2018	11,500	0.20 mi
Central Dr NW	Concord Pkwy N	2018	1,400	0.22 mi
Central Dr NW	Crystalwood Ct NW	2018	7,300	0.36 mi
Davidson Hwy	Hall Ave NW	2016	17,000	0.38 mi
Concord Pkwy N	Davidson Dr NW	2016	29,000	0.47 mi
Davidson Dr NW	Morton Ave NW	2018	11,000	0.61 mi
Concord Parkway North	Davidson Dr NW	2018	25,000	0.61 mi

Listing Broker

Mark Ruble

Marcus & Millichap: NLAG

Contact

163 Listings
6580 Views
74 Sold

Chris Lind

Marcus & Millichap: NLAG

Contact

162 Listings
6512 Views
73 Sold

Mark Ruble

Mark Ruble is the co-founder of the Net Lease Advisory Group and a top producing Agent with Marcus & Millichap. Mark has been with Marcus & Millichap for 19 years (2004) and has received numerous accolades for his superior service and outstanding performance. Mark has successfully closed over 1,840 properties totaling in excess of $5.7 Billion in transaction volume across 46 states. The key to Mark’s success has been his dedication to providing clients with market leading information an

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Chris Lind

Chris Lind specializes in advising the Net Lease Advisory Group’s clients in the acquisition and disposition of net-leased investment properties nationally. Chris is solely committed to single-tenant and multi-tenant net leased assets as well as structuring sale/leasebacks and portfolio sales throughout the United States. Chris has been with Marcus & Millichap since 2007 and his experience includes selling hundreds of properties located throughout the country. Chris prides himself on act

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