Chick-fil-A (GL)

4411 New Bern Avenue, Raleigh, NC 27610

$3,000,000

Cap Rate 4.50%

Views: 192 DOM: 215 Updated: 11.25.24 Posted: 04.24.24 Status: Sold 11.25.24

Summary

Price $3,000,000	Built/Renov 2024	Tenant Chick-fil-A (GL)
Cap Rate 4.50%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 4,504	Lease Start 07-01-2024	#Units 2,982
Price/SF $666.07	Expiration 06-30-2044	Tenant Type Fast Casual/Rest.
NOI $135,000	R. Term 19.6	Ownership Ground Lease
Rent/SF $29.97	Increases 10.0%/20/yrs	Pop 5Mi 196,522
Lot/AC 1.65	Options 7/5yrs/10%	AHHI 5Mi $98,954

David Hoppe

Atlantic Capital Partners

Contact

Lease Highlights

Brand new 2024 construction
Chick-fil-A will be executing a brand new 20-year ground lease with 7 (5-year) options to extend
The lease features 10% rental escalations throughout the initial term and option periods
Absolute NNN | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

Chick-fil-A is strategically located on New Bern Avenue, with access to 37,000 vehicles passing by daily. The property is positioned on a Walmart outparcel, which attracts over 1.6 million visitors annually. Within a 1-mile radius of the site, there are over 1.2 million square feet of retail space and approximately 1,173 apartments. The immediate area is surrounded by well-known national...

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Key Features

New construction
Build to suit
Dense retail corridor
WalMart out-parcel
Top 100 MSA
Brand new lease
Long 20+ yr lease
Absolute NNN
Over 2000 units backed
Corporate Guarantee

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Links

Chick-fil-A Wikipedia Chick-fil-A Wikipedia Raleigh, North Carolina Zip Code 27610 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Chick-fil-A
Guarantor:Corporate
Company:Chick-fil-A Inc.
# Units:2,982
Stock:Private

About Tenant

Chick-fil-A is one of the largest American fast-food restaurant chains, and the largest specializing in chicken sandwiches. Chick-fil-A was first opened in 1946 in Atlanta, Georgia, under the name...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	9,755	68,473	212,625
2023 Total Population :	8,809	66,101	196,522
2023 Employed Civilian Pop :	4,887	35,136	104,911
2023 Total Businesses :	499	2,577	10,840
2023 Average Household Income :	$ 104,409	$ 94,095	$ 98,954
2023 Total Consumer Spending :	$ 280 M	$ 2078 M	$ 6682 M
2023 Median Age :	35	36	35
2023 Total Households :	3,122	25,425	77,787
2023 Pop Age 25+: Bachelor's Degree :	1,729	11,029	36,675
2023 Average Home Value :	$ 272,713	$ 273,737	$ 340,682

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
New Bern Ave	Partin Rd	2013	29,000	0.02 mi
US 64 Business	Partin Rd	2021	37,080	0.04 mi
New Bern Avenue	Freedom Dr	2019	33,500	0.04 mi
New Hope Rd	New Bern Ave	2013	20,000	0.10 mi
New Bern Avenue	New Hope Rd	2019	31,500	0.13 mi
North New Hope Road	New Bern Ave	2021	21,296	0.14 mi
New Hope Rd	New Bern Ave	2013	15,490	0.17 mi
New Bern Avenue	New Hope Rd	2021	36,082	0.17 mi
Wilders Grove Ln	New Bern Ave	2013	32,000	0.18 mi
Corporation Parkway		2013	6,230	0.20 mi

Listing Broker

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