Listed by JLL Chicago | Americas Headquarters, JLL - Irvine (Orange County), California
$3,750,000
Chick-Fil-A - Chapel Hill, NC
Details
Property Type Retail
Sub Type QSR/Fast Food, Restaurant
Square Footage 4,500
Net Rentable (SqFt) 4,500
Cap Rate 4%
NOI $150,000
Tenancy Single
Brand/Tenant Chick-fil-A
Lease Type Absolute NNN
Lease Expiration 02/28/2043
Remaining Term 16.6
Rent Bumps Yes
Lease Options 9 x 5 Years
Year Built 2023
Acreage 1.850
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Ground Lease Yes
Chick-Fil-A Ground Lease | High Barriers to Entry | 4 Miles from UNC
Marketing description
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the single-tenant Chick-Fil-A at 101 Village Center Drive in Chapel Hill, North Carolina (“Property” or “Asset”). The Property is operating on an absolute NNN ground lease lease with ±16.7 years of primary lease term remaining, 10% rent escalations every 5 years and nine, five-year options. Chick-Fil-A recently acquired an additional 0.35 acres for expansion at the site.
NC Broker of Record: Pete Pitroff: License #: 163984
Investment highlights
- Absolute NNN ground lease with ±16.7 years of primary lease term remaining
- 4 miles north of UNC Chapel Hill with 34,000+ students
- Dual drive-thru lanes, maximizing long-term operational relevance
- Within Carraway Village – the largest greenfield development in Chapel Hill in the past decade
- One of the few approved drive-thru sites in Chapel Hill due to restrictive permitting
- Located off I-40 exit 266, one of the busiest interchange with 77,000+ VPD, with a new I-40 slip ramp currently under construction
- Dense residential development with accessibility to 1,200+ residents within a 5-minute walk
- 3 miles from Carolina North Campus, UNC-Chapel Hill’s 250-acre satellite campus
- Chick-Fil-A is the most profitable QSR franchisee on a per-location basis in the U.S.
Listing Contacts
Listed by JLL Chicago | Americas Headquarters, JLL - Irvine (Orange County), California
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$150,000.00
$12,500.00/mo
Valuation Metrics
0
DSCR
4%
Cap Rate
4%
ROI
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