The Habit Burger Grill

2121 West Roosevelt Boulevard, Monroe, NC 28110

$2,261,540

Cap Rate 5.85%

Views: 172 DOM: 142 Updated: 11.27.24 Posted: 08.01.24 Status: Active

Summary

Price $2,261,540	Built/Renov 2022	Tenant The Habit Burger Grill
Cap Rate 5.85%	Lease Type Double NN	Guarantor Corp T and Rated
Size/SF 2,700	Lease Start 03-01-2023	#Units 378
Price/SF $837.61	Expiration 02-28-2038	Tenant Type Fast Casual/Rest.
NOI $132,300	R. Term 13.2	Ownership Fee Simple
Rent/SF $49.00	Increases 10.0%/3/yrs	Pop 5Mi 50,031
Lot/AC 0.54	Options 3/5yrs/10%	AHHI 5Mi $90,382

Lease Highlights

The Habit Burger Grill has 13+ years remaining on the current lease term with 3 (5-year) options to extend
The lease features 10% rental increases every 5 years throughout the initial term and option periods
Minimal landlord responsibilities
Corporate guaranteed lease

Location Description

The Habit Burger Grill is strategically located on W Roosevelt Boulevard, with access to a robust daily traffic count of 50,000 vehicles. The property is situated as an outparcel to Monroe Crossing Mall, which features well-known national tenants including Belk, Best Buy, Roses, Planet Fitness, JOANN, Hibbett Sports, and more. Monroe Crossing Mall has welcomed over 335,000 visitors through 2.4...

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Key Features

New construction
High traffic 50M+ VPD
Dense retail corridor
Near major nationals
Shopping Ctr out-parcel
Top 100 MSA
Affluent suburb location
Long 10+ yr lease
Traded and rated company
Corporate Guarantee

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Links

The Habit Burger Grill Wikipedia The Habit Burger Grill Wikipedia Monroe, North Carolina Zip Code 28110 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: The Habit Burger Grill
Guarantor:Corp T and Rated
Company:Yum! Brands, Inc.
# Units:378
Tenant S&P: BB+
Moody’s: Baa2
Stock: NYSE: YUM

About Tenant

The Habit Restaurants Inc. is a burger-centric, fast-casual restaurant concept. It specializes in preparing fresh, made-to-order char-grilled burgers and sandwiches featuring USDA choice tri-tip...

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Demographics

	1 Miles	3 Miles	5 Miles
2029 Total Population :	3,529	31,636	57,237
2024 Total Population :	3,358	29,448	52,293
2024 Employed Civilian Pop :	1,596	14,084	25,295
2024 Total Businesses :	421	1,696	2,296
2024 Average Household Income :	$ 77,055	$ 89,697	$ 95,352
2024 Total Consumer Spending :	$ 86 M	$ 842 M	$ 1570 M
2024 Median Age :	34	37	37
2024 Total Households :	1,262	10,622	18,688
2024 Pop Age 25+: Bachelor's Degree :	342	3,114	6,130
2024 Average Home Value :	$ 368,033	$ 405,849	$ 415,565

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
West Roosevelt Boulevard	Dickerson Blvd	2021	47,961	0.04 mi
Secrest Short Cut Road	Kim Ct	2021	10,339	0.11 mi
West Roosevelt Boulevard	Dickerson Blvd	2018	49,500	0.12 mi
West Roosevelt Boulevard	Temple St	2021	51,390	0.14 mi
West Roosevelt Boulevard	Temple St	2018	51,000	0.20 mi
	W Roosevelt Blvd	2021	999	0.27 mi
Dickerson Boulevard	Commerce Dr	2021	15,962	0.27 mi
	W Roosevelt Blvd	2021	987	0.29 mi
Commerce Dr	Bass St	2014	3,317	0.29 mi
W Roosevelt Blvd	Temple St	2014	56,000	0.30 mi

Listing Broker

Brian Pfohl

CBRE: NLPG Atlanta

Contact

132 Listings
16916 Views
60 Sold

Chris Bosworth

CBRE: NLPG Atlanta

Contact

133 Listings
16766 Views
62 Sold

Brian Pfohl

Brian Pfohl is an Executive Vice President with CBRE’s Net Lease Property and Corporate Capital Markets practice groups. Mr. Pfohl’s singular focus is to advise corporate users, institutions, private equity firms, REITs, developers, and private individuals regarding all facets of net-leased properties. Mr. Pfohl’s expertise stems from the myriad of sale-leaseback transactions, net lease investment sales, programmatic portfolio dispositions, and advisement assignments he has completed throughout

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Chris Bosworth

Chris Bosworth is a Vice Chairman and Managing Director of the CBRE Net Lease Property Group and Corporate Capital Markets practice. Mr. Bosworth’s focus is to advise institutions, private equity firms, REITs, developers and corporate users regarding all facets of net-leased properties. In his career, Mr. Bosworth and his partners, Will Pike and Brian Pfohl, have been responsible for the disposition of 3,900 transactions valued in excess of $29 billion. Mr. Bosworth and Mr. Pike co-head the

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Thomas Carr

CBRE: NLPG Atlanta

Contact

135 Listings
16917 Views
63 Sold

Thomas Carr

Thomas Carr is an Senior Investment Sales Analyst with CBRE’s Net Lease Property Group. As a member of the team led by Chris Bosworth and Will Pike, Mr. Carr plays an integral role in all aspects of the group’s property valuation, underwriting, and marketing efforts. He is also actively involved in marketing the team’s disposition assignments, specializing in single-tenant assets, national net-lease portfolios, and corporate sale-leasebacks, as well as advising 1031 exchange buyers. Mr. Carr

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