Bojangles

Bojangles

688 S Andy Griffith Pkwy
Mount Airy (Triad MSA), NC

Price: $1,500,000
Cap: 6.00%
NOI: $90,000
Building Size: 3,572 SF
Lot Size: 1.23 AC

Investment Highlights

OUTPARCEL TO LOWE’S & FOOD LION SHOPPING CENTER
• The subject property is a 3,572 SF Bojangles with a drive thru with two points of entry on S Andy Griffith Pkwy (19,500 VPD) and is 2 miles from I-74 (21,000 VPD).
• This Bojangles sits as an outparcel at the entrance of a 168,000 SF Lowe’s Home Improvement & Food Lion Anchored Shopping Center.
• The property is surrounded by 2.6M SF of retail in a 1-mile radius including Walmart, Tractor Supply, Big Lots, Harbor Freight and more.

PIEDMONT TRIAD MSA
• This Bojangles is located on Hwy 52 (39,500 VPD) 20 miles Northwest of downtown Winston-Salem and is part of the Piedmont Triad MSA.
• The Triad is known as one of the primary manufacturing and transportation hubs of the southeastern U.S. and includes Greensboro, Winston-Salem and Highpoint, NC.
• The Piedmont Triad has an estimated population of 1,611,243 making it the 33rd largest combined statistical area in U.S.
• There are approximately 900,000 jobs in the Piedmont Triad.

7-YEAR C ORPORATE NNN LEASE
• The subject property has 7 years remaining on a 20-year Corporate Guaranteed NNN Lease.
• Tenant is 100% responsible for all expenses including taxes, insurance, CAM, Roof & Structure.
• There are two, 5-year options periods.
• There is a 5% rent increase during the first, 5-year option and 5.74% rent increase during the second, 5-year option period.

BOJANGLES
• Bojangles is an American regional chain of fast-food restaurants that has been in business for 44 years.
• Bojangles is headquartered in Charlotte, NC and has over 1000 stores in 12 states with 4,500+ employees.
• Bojangles did $1.3 billion in system wide sales in 2019.

Don McMinn
OFFERING MEMORANDUM

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