Bojangles', Asheville, NC

320 Airport Road
Arden, NC 28704

PROPERTY SOLD

Property: Investment Sales

Square Footage: 3,800

Price: $2,180,000

Cap Rate: Call

Description:

  • Located about 1 mile from the regional airport, 15 miles from the CBD and 10 miles from popular Biltmore Estate
  • 3,816 square foot restaurant with drive-thru on about 0.92 acres positioned between Walmart, Target and Lowe’s
  • 20 year NNN franchisee lease that commenced in December 2012 with 10% rent bumps every 5 years
  • The leveraged transaction closed escrow in May 2013 for approximately $2.18 million with a 62% loan
  • The buyer was an experienced high net worth NNN investor out of southern California

Bojangles', Asheville, NC

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Contact

Tyson Glasser, CCIM
Investment Sales Director
(864) 263-5427 - Main
(404) 435-6312 - Mobile
tglasser@realtylinkdev.com