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Views: 122 DOM: 422 Updated: 08.06.24 Posted: 09.29.23 Status: Active

Summary

Price $1,725,000
Built/Renov 1998
Tenant The Juicy Crab
Cap Rate 6.70%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 4,815
Lease Start 01-01-2017
#Units 56
Price/SF $358.26
Expiration 12-31-2036
Tenant Type Casual Dining
NOI $115,560
R. Term 12.1
Ownership Fee Simple
Rent/SF $24.00
Increases 7.0%/5/yrs
Pop 5Mi 112,053
Lot/AC 1.28
Options 4/5yrs/7%
AHHI 5Mi $82,960

Lease Highlights

  • The Juicy Crab has over 13 years remaining on the current lease term with 4 (5-year) options to extend
  • Lease features 7% rental increases every 5 years throughout the initial term and at the start of each option
  • Absolute NNN | Zero landlord responsibilities
  • The Juicy Crab Franchise has 56 restaurants throughout the U.S. and is a market leader in the seafood restaurant service market

Location Description

The Juicy Crab is located along E Franklin Blvd, which averages 41,000 vehicles passing by daily. E Franklin Blvd is a major retail east/west traveling thoroughfare serving the city of Gastonia. The Juicy Crab property is located across from Franklin Square III, a 454,000 square foot center which features national/credit tenants including Kohl’s and PetSmart. The property is located less than...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: The Juicy Crab
  • Guarantor:Franchisee
  • Company:Franchisee
  • # Units:56
  • Stock:Private

About Tenant

The Juicy Crab serves a seafood forward menu specializing in New Orleans style seafood boils.  Customers can select from a variety of suggested combos, or create their own.  Menu items are offered...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 4,188 46,372 116,851
2023 Total Population : 4,169 45,868 113,399
2023 Employed Civilian Pop : 2,211 23,085 55,308
2023 Total Businesses : 317 1,849 4,223
2023 Average Household Income : $ 84,281 $ 84,472 $ 83,809
2023 Total Consumer Spending : $ 123 M $ 1381 M $ 3354 M
2023 Median Age : 45 41 41
2023 Total Households : 1,679 18,831 46,038
2023 Pop Age 25+: Bachelor's Degree : 740 5,946 15,327
2023 Average Home Value : $ 216,484 $ 245,622 $ 257,209
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
E Franklin Blvd S Church St 2016 26,000 0.13 mi
S Church St E Franklin Blvd 2016 4,000 0.18 mi
E Franklin Blvd S Church St 2016 25,000 0.22 mi
Sen Marshall Arthur Rauch Highway 2200 2019 127,000 0.33 mi
I-85 2339 2020 114,000 0.33 mi
E Franklin Blvd Old Redbud Dr 2016 24,000 0.43 mi
Redbud Dr Old Forge Dr 2016 20,000 0.53 mi
Redbud Dr Vaghn St 2016 20,000 0.54 mi
S Main St Crausby Ave 2016 24,000 0.54 mi
Wilkinson Blvd Moose St 2016 25,000 0.61 mi

Listing Broker

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