Bojangles

690 TN-92, Dandridge, TN 37725

$2,590,000

Cap Rate 6.10%

Views: 100 Updated: 01.29.24 Posted: 10.18.23 Status: Inactive

Summary

Price $2,590,000	Built/Renov 2013	Tenant Bojangles
Cap Rate 6.10%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 3,856	Lease Start 12-12-2013	#Units 100
Price/SF $671.68	Expiration 12-31-2033	Tenant Type Fast Food/QSR
NOI $157,971	R. Term 9.1	Ownership Fee Simple
Rent/SF $40.97	Increases 7.0%/5/yrs	Pop 5Mi 16,852
Lot/AC 2.64	Options 4/5yrs/7%	AHHI 5Mi $85,466

Lease Highlights

Bojangles has been operating in this location for 10+ years
Tenant has approximately 10-years remaining on primary 20-year term with 4 (5-year) options to extend
The lease features 7% rental increases every 5 years
Absolute NNN | Zero landlord responsibilities
Strong guarantee | Lease is backed by BOJ of WNC, LLC, the largest Bojangles franchisee in the system with over 100 locations

Location Description

This Bojangles is strategically located, with great visibility and access, along Tennessee Route 92 (12,500 VPD), and just a couple of blocks from an I-40 on-ramp and off-ramp which sees 67,800 vehicles passing by daily. Approximately 16,852 people, earning an impressive average household income of $85,466 occupy the 5-mile surrounding area. Dandridge is a town in and the county seat of...

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Key Features

In location for years
Strategically located
Freeway close
Highway location
Top 100 MSA
Affluent suburb location
Income tax free state
Absolute NNN
Long 10+ yr lease
100+ unit franchisee backed

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Links

Bojangles Wikipedia Bojangles Wikipedia Dandridge, Tennessee Zip Code 37725 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Bojangles
Guarantor:Franchisee
Company:BOJ of WNC
# Units:100
Stock:Private

About Tenant

Bojangles Op Co, LLC, doing business as Bojangles, is an American regional chain that owns and operates specialty chicken restaurants. Their menu features their chicken family meals, chicken...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	1,614	8,588	17,355
2023 Total Population :	1,598	8,414	16,974
2023 Employed Civilian Pop :	620	3,546	7,072
2023 Total Businesses :	76	293	379
2023 Average Household Income :	$ 91,190	$ 89,567	$ 85,541
2023 Total Consumer Spending :	$ 37 M	$ 250 M	$ 511 M
2023 Median Age :	42	46	47
2023 Total Households :	466	3,199	6,782
2023 Pop Age 25+: Bachelor's Degree :	105	767	1,649
2023 Average Home Value :	$ 242,021	$ 279,335	$ 292,670

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
	Hwy 92 S	2021	4,586	0.40 mi
	Hwy 92 S	2021	4,624	0.47 mi
	Hwy 92 S	2021	4,562	0.54 mi
	Goose Creek Rd	2021	4,741	0.61 mi
N.OF DANDRIDGE	Twin Oaks Way	2019	11,624	0.86 mi
	Twin Oaks Way	2021	11,750	0.93 mi
W Hwy 25-70	Redbud Dr	2003	13,130	1.21 mi
I-40	Skyline Dr	2020	62,934	1.21 mi
ASHEVILLE HWY.	Cherokee Dr	2021	6,261	1.21 mi
I0040	Briggs Rd	2020	67,823	1.23 mi

Listing Broker

Aron Cline

Berkeley Capital Advisors

Contact

177 Listings
27453 Views
21 Sold

Calvin Short

Berkeley Capital Advisors

Contact

187 Listings
28461 Views
23 Sold

Aron Cline

Specializing in Single Tenant Net Lease and Shopping Centers, Aron Cline leads Berkeley Capital Advisors’ West Coast Office. Since 2011, Aron has been actively engaged in the commercial real estate space. Over the last decade, he and his team have been regarded as one of the most active brokerage teams in the country - having brokered over 1,300 transactions totaling $3.5 billion. His dedication and success have earned him the trust of some of the country’s top institutions, developers, high ne

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Calvin Short

Calvin Short joined Berkeley Capital Advisors in 2021 and leads the West Coast capital markets group. Since joining Berkeley, Calvin has been a part of closing 1,400 separate transactions with $4 billion in sales volume. Prior to Berkeley, Calvin served as Senior Vice President at Matthews REIS where he was consistently ranked within Matthews’ top five producing agents. In 2012, he graduated from The University of San Diego with a B.A. in Real Estate Finance. Calvin has spent the past 10 years

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