RealtyLink Development

Bojangles' (Bowling Green)

133 Three Springs Road
Bowling Green, KY 42104

Property: Investment Sales

Square Footage: +/- 3,808

Acreage: +/- 1.0

Price: $2,611,000

Cap Rate: 6.25%

Description:

  • 40 year old restaurant brand with over 700 locations in 12 Southeast and mid-Atlantic states
  • Publicly traded company (Nasdaq: BOJA) with 25 consecutive quarters of comparable store sales growth
  • Long term absolute NNN lease with 7% rent bumps every 5 years and three 5 year renewal options
  • Business is owned by one of the largest (50+ units) and most successful franchisees in the chain and only one to operate in 5 states
  • 2016 construction at a high profile signalized intersection just off I-65 exit 22
  • Positioned on the market’s primary retail and traffic corridor (+/- 35,000 VPD)
  • Located about 4 miles from downtown Bowling Green and Western Kentucky University, the state’s 2nd largest college with +/- 21,000 students and +/- 2,200 staff
  • Population over 83,000 in a 5 mile radius (9.25% growth since 2010) with 7.25% projected growth over the next 5 years
  • Average household income of $71,800 in a 3 mile radius with projected growth of 11% over the next 5 years
  • Bowling Green is the 3rd largest city in Kentucky with perfect regional location between Nashville, TN (60 miles South) and Louisville, KY (120 miles North)