Chick-Fil-A 905 E Broad Ave

4,982 SF Retail Building Rockingham, NC 28379 $6,654,000 ($1,336/SF) 4.69% Cap Rate

INVESTMENT HIGHLIGHTS

  • New 15-year absolute NNN corporate lease with 10% rental increases every five (5) years
  • Chick-fil-A hit a milestone in 2023, with systemwide sales reaching $21.6B, beating 2022’s total of $18.8B
  • Chick-fil-A’s drive-thru locations have shown impressive growth in sales volume over recent years, with locations averaging approximately $9M in 2023
  • Thirteen (13) option periods of five (5) years each, providing an excellent long-term investment opportunity
  • The average revenue for non-mall Chick-fil-A locations reached about $9.4M in 2023, up from $8.67 million in 2022
  • In 2024, Chick-fil-A opened approximately 75 new locations across various regions

EXECUTIVE SUMMARY

Positioned on Broad Avenue, the property benefits from 17,500 daily vehicles passing directly in front of the site, ensuring steady exposure for Chick-fil-A. The absolute NNN lease eliminates landlord responsibilities, providing stable and predictable income backed by a proven tenant. Featuring a 15-year lease with 10% rent escalations every five years, the property offers consistent NOI growth and long term security. The 4,982 SF facility is situated on a 1.78-acre site, equipped with a dual-lane drive-thru and ample parking to accommodate peak-hour traffic. Chick-fil-A’s average annual unit sales of $8.5 million positions the tenant as a reliable and financially secure operator. Built-to-suit construction allows property owners to depreciate improvements, enhancing the investment’s after tax returns.

PROPERTY FACTS

Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Fast Food
Building Size
4,982 SF
Building Class
B
Year Built
2024
Price
$6,654,000
Price Per SF
$1,336
Cap Rate
4.69%
NOI
$312,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.06
Lot Size
1.78 AC
Parking
88 Spaces (17.66 Spaces per 1,000 SF Leased)

AMENITIES

  • Drive Thru

NEARBY MAJOR RETAILERS

Truist
Starbucks
Cook Out
Planet Fitness
Food Lion
IGA
PNC Bank

PROPERTY TAXES

  • Listing ID: 34478769

  • Date on Market: 1/14/2025

  • Last Updated:

  • Address: 905 E Broad Ave, Rockingham, NC 28379