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Views: 254 DOM: 213 Updated: 10.10.24 Posted: 04.22.24 Status: Active

Summary

Price $4,649,000
Built/Renov 2000/2023
Tenant Zaxby's
Cap Rate 6.25%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 3,040
Lease Start 03-01-2024
#Units 20
Price/SF $1,529.28
Expiration 04-30-2044
Tenant Type Fast Casual/Rest.
NOI $290,574
R. Term 19.5
Ownership Fee Simple
Rent/SF $95.58
Increases 10.0%/5/yrs
Pop 5Mi 66,539
Lot/AC 1.22
Options 4/5yrs/10%
AHHI 5Mi $78,869

Lease Highlights

  • Zaxby’s recently executed a brand-new 20-year lease with 4 (5-year) options to extend
  • The lease features 10% rental increases every 5 years throughout the initial term and option period
  • Strong Sales | Site was 42% above average in sales for a Zaxby's in 2023
  • Absolute NNN lease | Zero landlord responsibilities
  • Lease guaranteed by Guernsey Holdings (20 units backed)

Location Description

Zaxby's is strategically located at the signalized, hard-corner intersection of South Irby Street and Frank Monroe Dr, major thoroughfares to Myrtle Beach, with access to a combined daily traffic count of 45,050 vehicles. The property is one block from a Walmart Supercenter-anchored shopping center, surrounded by well-known national tenants including Chick-fil-A, Verizon, Cricket Wireless,...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Zaxby's is a privately held, American chain of fast-casual restaurants offering chicken wings, chicken fingers, sandwiches, salads, and nine signature sauces, including their famous “Zax”...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 6,772 36,755 66,340
2023 Total Population : 6,842 37,065 66,539
2023 Employed Civilian Pop : 3,322 16,701 29,031
2023 Total Businesses : 248 1,197 3,070
2023 Average Household Income : $ 97,748 $ 81,886 $ 78,869
2023 Total Consumer Spending : $ 254 M $ 1092 M $ 1905 M
2023 Median Age : 41 40 40
2023 Total Households : 3,038 15,409 27,769
2023 Pop Age 25+: Bachelor's Degree : 1,119 4,918 8,474
2023 Average Home Value : $ 216,338 $ 210,678 $ 218,145
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
South Irby Street 3rd Loop Rd 2022 20,500 0.36 mi
Freedom Boulevard Frank Monroe Dr 2022 17,600 0.56 mi
South Irby Street E Redbud Ln 2022 34,300 0.80 mi
South Irby Street W Kansas Dr 2022 25,500 0.84 mi
South Irby Street E Wakefield Ave 2021 25,200 0.84 mi
Pamplico Highway E Siesta Dr 2022 31,500 0.94 mi
2nd Loop Road Helen St 2022 27,100 1.00 mi
Pamplico Highway S Irby St 2022 3,900 1.02 mi
South Church Street E Ervin St 2022 18,100 1.06 mi
South Church Street Dorado Dr 2021 17,900 1.06 mi

Listing Broker

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