Corporate Hardee's | STRONG SALES | 11 Year Lease
Retail | 6.44% CAP | 2,446 SqFt
Marketing description
Matthews™ is pleased to present the opportunity to acquire a fee simple, single-tenant net-leased Hardee's located in Tar Heel, NC, a strategic rural market anchored by one of the largest employment centers in the region. The Property is secured by a corporately guaranteed lease from Hardee's Restaurants LLC with over 11 years of term remaining, offering investors long-term, secure income backed by a nationally recognized quick-service operator.
Constructed in 2017 as a build-to-suit for Hardee's, the ±2,466 SF property sits on a well-positioned corner parcel with excellent access and visibility along the area's primary commercial corridor. The asset benefits from strong unit-level performance driven by its proximity to the Smithfield Foods pork processing facility, the largest pork processing plant in the world, which employs thousands of daily workers and serves as the primary economic driver for the region.
The Property is surrounded by highly trafficked retail and service-oriented uses that cater directly to the local workforce, creating a captive customer base and consistent daily traffic patterns. This offering provides a unique opportunity to acquire a high-performing, mission-critical QSR asset with durable demand drivers, strong, proven performance, and contractual rent growth.
Investment highlights
- Long-Term Corporate Lease | 11 Years Remaining: The Property is secured by a corporate guarantee from Hardee's Restaurants LLC with 11 years remaining, providing stable and reliable long-term income.
- Absolute NNN Lease | Passive Investment: The asset is leased on an absolute triple-net (NNN) basis, offering a hands-off ownership structure with zero landlord responsibilities for taxes, insurance, maintenance, repairs, or capital expenditures.
- Strong Store Sales | Above National Averages: This location reports consistent store sales well above the Hardee's national average, demonstrating a strong track record of strong unit-level performance and reinforcing the security of the investment. Contact broker for details.
- Attractive Rent Growth | 10% Increases Every 5 Years: The lease features 10% rental escalations every five years, delivering meaningful income growth and protection against inflation over the hold period.
- Next rent bump 5/2027, offering investors an immediate return on investment and taking the cap rate to +7%
- Proximity to Smithfield Foods Plant | Major Employment Driver: The Property benefits directly from its location near the Smithfield Foods pork processing facility, the largest of its kind globally, employing thousands of workers and generating consistent, daily consumer demand.
- Build-to-Suit Construction | 2017 Vintage: Developed in 2017 specifically for Hardee's, the Property features modern construction, current design standards, and minimal near-term capital expenditure risk for the tenant.
- Limited Competition | Captive Trade Area: The immediate market features limited quick-service competition, allowing the Property to capture a significant share of local dining demand driven by the surrounding workforce.
- Essential Workforce-Oriented Location: The surrounding area is heavily driven by industrial and workforce activity, creating consistent traffic patterns throughout the day and supporting long-term tenant performance.
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