Chick-fil-A | 957 N Wendover Rd
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Chick-fil-A 957 N Wendover Rd
3,000 SF Retail Building Charlotte, NC 28211 $2,875,000 ($958/SF) 4% Cap Rate
Investment Highlights
- Attractive Lease Fundamentals - Abs. NNN - Ground Lease
- New Construction W/ Double Drive Thru Prototype
- Strong Demographics in High Growth MSA
Executive Summary
Corporate Guarantee from Strong Tenant
- Chick-Fil-A currently operates over 3,000 locations
- Employs over 200,000 people
- 2022 U.S. system sales totaled $18.8B (up 13% from 2021)
- 3rd Largest fast-food chain in the country by sales volume (QSR Magazine)
Attractive Lease Fundamentals
- Fifteen year ground lease provides next owner with zero landlord responsibilities
- 8% rental increases every 5 years during initial term
- 10% rental increases in each option period
Strong Surrounding Demographics in High-Growth MSA
- Over 10K people live in a 1-mile radius
- AHHI exceeds $110K in a 1-mile radius
- Charlotte, NC ranked 5th in largest population growth from 2021-2022
Well Located In Rapidly Growing Sub-Market
- Over 805K SF of retail space and 2,000 apartments are located within 1-mile radius
- Over 22K SF of retail has been absorbed in TTM
- Other nearby national retailers include: The Home Depot, McDonald’s, and 7-Eleven
New Construction W/ Double-Drive Thru Prototype
- Newly built Chick-Fil-A with the double-drive through prototype
- The parcel has its own dedicated parking lot
A Top Performing Market Nationally
- Charlotte, NC ranked #5 in 2022 of best residential markets (Rocket Mortgage)
- Charlotte forecasts a 45.2% job growth over the next 10 years (4.6% growth from 2021 to 2022)
- 5th fastest growing city from 2021 to 2022 (population change: 15,217)
- Chick-Fil-A currently operates over 3,000 locations
- Employs over 200,000 people
- 2022 U.S. system sales totaled $18.8B (up 13% from 2021)
- 3rd Largest fast-food chain in the country by sales volume (QSR Magazine)
Attractive Lease Fundamentals
- Fifteen year ground lease provides next owner with zero landlord responsibilities
- 8% rental increases every 5 years during initial term
- 10% rental increases in each option period
Strong Surrounding Demographics in High-Growth MSA
- Over 10K people live in a 1-mile radius
- AHHI exceeds $110K in a 1-mile radius
- Charlotte, NC ranked 5th in largest population growth from 2021-2022
Well Located In Rapidly Growing Sub-Market
- Over 805K SF of retail space and 2,000 apartments are located within 1-mile radius
- Over 22K SF of retail has been absorbed in TTM
- Other nearby national retailers include: The Home Depot, McDonald’s, and 7-Eleven
New Construction W/ Double-Drive Thru Prototype
- Newly built Chick-Fil-A with the double-drive through prototype
- The parcel has its own dedicated parking lot
A Top Performing Market Nationally
- Charlotte, NC ranked #5 in 2022 of best residential markets (Rocket Mortgage)
- Charlotte forecasts a 45.2% job growth over the next 10 years (4.6% growth from 2021 to 2022)
- 5th fastest growing city from 2021 to 2022 (population change: 15,217)
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
3,000 SF
Building Class
B
Year Built
2023
Price
$2,875,000
Price Per SF
$958
Cap Rate
4%
NOI
$115,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.06
Lot Size
1.10 AC
Amenities
- Drive Thru
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 157-051-36 | Improvements Assessment | $4,970,500 |
| Land Assessment | $5,168,100 | Total Assessment | $10,138,600 |
PROPERTY TAXES
Parcel Number
157-051-36
Land Assessment
$5,168,100
Improvements Assessment
$4,970,500
Total Assessment
$10,138,600
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Chick-fil-A | 957 N Wendover Rd
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