Properties

Bojangles' (Asheville MSA)

700 Upward Road
Hendersonville, NC 28731

PROPERTY SOLD

Property: Investment Sales

Square Footage: +/- 3,808

Acreage: +/- 1.32

Price: $2,999,000

Cap Rate: 6.0%

Description:

• Popular 38 year old regional brand with more than 650 locations in 11 states and growing
• 15 year absolute NNN lease commenced January 2015 with 7% rent bumps every 5 years
• Top performing and award winning franchisee with 42 units in 5 states and growing
• Class A construction at a busy signalized intersection in front of a future Holiday Inn Express
• Traffic counts in excess of 21,000 cars per day in front of property and 57,000 on I-26
• Population over 45,000 with average household income over $55,000 in a 5 mile radius
• Popular interstate exit location about 25 miles south of Asheville and Biltmore Estates
• Gateway from SC to Great Smoky Mountains National Park, the most visited national park with 10+ million annual visits (Grand Canyon is second with 4.7+ million)