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31704752
31704751

300 Virginia Parkway, Waynesboro, GA 30830

JJ
SC 195327
Realty Link Development, LLC
Listed by Realty Link Development, LLC
$2,960,740
57 days on market
Updated 57 days ago

Bojangles - Waynesboro, NC

Details
Property Type Retail
Sub Type Commercial, Retail Center
Square Footage 2,900
Units 120
Cap Rate 5.95%
NOI $176,164
Tenancy Single
Lease Type Absolute NNN
Lease Term 16
Lease Options 3-5 Years Each
Zoning TownCenter
Parking Spaces 30 spaces
Parking Per SqFt 10.34

Retail | 5.95% CAP | 2,900 SqFt

Marketing description

Bojangles is a highly differentiated and growing restaurant operator and franchisor dedicated to serving customers high-quality, craveable food made from our Southern recipes, including breakfast served All Day, Every Day. Founded in 1977 in Charlotte, N.C., Bojangles® serves menu items such as made-from-scratch biscuit breakfast sandwiches, delicious hand-breaded bone-in chicken, flavorful fixins (sides) and Legendary Iced Tea®. Currently, Bojangles has approximately 760 system-wide restaurants in 11 states. 

Based in Arden NC, BOJ of WNC owns and operates over 120 restaurants in North Carolina, South Carolina, Tennessee, Georgia and Kentucky. The franchise group began with six locations in Asheville NC in 2001 and has grown to serve Bojangles menu items, including delicious chicken; made-from-scratch buttermilk biscuits; flavorful fixins and Legendary Iced Tea® to five, soon-to-besix, states. They recently celebrated its 21st anniversary with the  announcement of a substantial expansion agreement within their existing core markets along with a new Bojangles market: Columbus OH, which is slated for 15 locations. In connection with the planned development of 45 new restaurants, they also recently acquired 16 company operated restaurants making him the largest franchisee in the system

Investment highlights

  • Annual Base Rent/NOI:
  • Years 1-6       $176,164
  • Years 7-11     $193,780
  • Years 12-16   $213,158
  • Option 1        $234,474
  • Option 2        $257,921
  • Option 3        $283,713
  • Rent Increases: 7% Every 5 Years Beginning Year 7
  • Lease Type: Absolute NNN
  • Lease Term: 16 Years
  • Lease Commencement: January 2025
  • Lease Expiration: January 2041
  • Renewal Options: 3-5 Years Each
  • Tenant/Guarantor: BOJ of WNC, LLC
  • Tenant Website: www.bocountry.com
  • Landlord Obligations: None
  • Building Size SF 2,900
  • Building Age: 1 year

Listing Contacts

JJ
SC 195327
Realty Link Development, LLC
Listed by Realty Link Development, LLC

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$176,164.00
$14,680.33/mo

Valuation Metrics

0
DSCR
5.95%
Cap Rate
5.95%
ROI

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