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Views: 26 DOM: 134 Updated: 04.12.24 Posted: 01.04.24 Status: Active

Summary

Price $7,350,000
Built/Renov 2023
Tenant Chef'Store
Cap Rate 6.60%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 20,004
Lease Start 11-18-2023
#Units 90
Price/SF $367.43
Expiration 11-30-2038
Tenant Type Grocery
NOI $485,097
R. Term 14.6
Ownership Fee Simple
Rent/SF $24.25
Increases 10.0%/4/yrs
Pop 5Mi 107,501
Lot/AC 2.23
Options 4/5yrs/10%
AHHI 5Mi $77,247

Lease Highlights

  • Brand-new 2023 construction
  • Chef’s Store recently signed a brand-new 15-year lease with 4 (5-year) options to extend
  • Lease features 10% rental increases every 5 years throughout the initial term and at the start of each option
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Corporate guaranteed lease

Location Description

Chef’ Store is strategically located at the intersection of Greenville Boulevard Southwest and South Memorial Drive, with a combined daily traffic count of 61,500 vehicles. Positioned in a densely populated retail corridor, it is surrounded by major national tenants, including Walmart, Kohl's, Hobby Lobby, Lowe's Home Improvement, and more. Within a convenient 10-minute drive of downtown...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Chef'Store
  • Guarantor:Corp T and Rated
  • Company:US Foods Holding Corp
  • # Units:90
  • Tenant S&P: BB
  • Moody’s: Ba3
  • Stock: NYSE: USFD

About Tenant

US Foods CHEF’STORE is a wholesale food and restaurant supply store and warehouse operator offering restaurant operators and food service professionals thousands of food products, including fresh...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 69 8,861 45,075
2023 Total Population : 66 8,732 44,964
2023 Employed Civilian Pop : 24 3,915 19,301
2023 Total Businesses : 105 425 2,741
2023 Average Household Income : $ 74,989 $ 52,599 $ 57,124
2023 Total Consumer Spending : $ 1 M $ 175 M $ 933 M
2023 Median Age : 24 29 28
2023 Total Households : 27 3,751 18,488
2023 Pop Age 25+: Bachelor's Degree : 2 612 4,481
2023 Average Home Value : $ 276,316 $ 193,416 $ 207,132
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Staton Rd Mlk Jr Hwy 2004 6,400 0.06 mi
Martin Luther King Jr Hwy Staton Rd 2004 480 0.08 mi
Staton Road Grady White Rd 2018 7,400 0.20 mi
Martin Luther King Jr Hwy Staton Rd 2004 12,000 0.25 mi
Martin Luther King Junior Highway Parcel Rd 2018 16,500 0.47 mi
US 264 Grady White Rd 2020 16,500 0.61 mi
Old Creek Rd Tram Ln 2004 3,600 0.79 mi
Staton Rd N Memorial Dr 2018 7,100 0.83 mi
Martin Luther King Jr Hwy N Memorial Dr 2004 11,000 0.89 mi
Martin Luther King Jr Hwy N Memorial Dr 2018 15,500 0.90 mi

Listing Broker

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