Dollar Generalcypresscommercial.com
Bojangles’Charlotte, North Carolina
NET LEASE INVESTMENT OFFERING
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TABLE OF CONTENTS:
Company Overview 3
Disclaimer 3
Investment Overview | Property Highlights 4
Sales Summary | Lease Information 5
Regional Map 6
Local Aerial 7
Local Aerial 8
Site Aerial 9
Site Plan 10
Charlotte, NC 11
Tenant Summary 12
Demographics 13
PRESENTED BY:
James C. Harrison, III, CCIMBroker-in-Charge803 834.7014 Ext. 1 (o)803 331.8088 (c)[email protected]
ADDRESS:
Cypress Commercial & Investment Real Estate3101 Devine StreetColumbia, SC 29205
cypresscommercial.com
Bojangles’Charlotte, North Carolina
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Bojangles’Charlotte, North Carolina
COMPANY OVERVIEW:
Cypress Real Estate Partners, LLC d/b/a Cypress Commercial & Investment Real
Estate is an investment real estate brokerage firm that exclusively represents
buyers and sellers of single-tenant income producing properties and shopping
centers in the Carolinas and southeastern United States. With over 80 years
of investment real estate experience, Cypress has emerged as one of the top
boutique investment real estate firms. Cypress’ brokerage team prides itself on
delivering superior client service while offering the most current and advanced
marketing techniques in today’s marketplace. Cypress has sold over $1 billion in
investment properties throughout the Carolinas and eastern half of the United
States, representing both buyers and sellers in both metropolitan and rural
marketplaces.
DISCLAIMER:
It is the prospective purchaser’s responsibility to conduct its own due diligence.
The information contained in this brochure does not purport to be all-inclusive
or to contain all of the information that a prospective purchaser may desire.
Additional information and an opportunity to inspect the property will be
made available to interested, qualified prospective purchasers. Owner and its
representatives make no representation or warranty, express or implied, as to
the accuracy or completeness of this information, and no legal commitments
or obligations shall rise by reason of the contents herein. Cypress Real Estate
Partners d/b/a Cypress Commercial & Investment Real Estate represents the
Seller in this transaction.
The owner expressly reserves the right, at its sole discretion, to reject any or
all expressions of interest by any entity at any time with or without notice. The
Owner shall have no legal commitment or obligation to any entity reviewing
this information or making an offer to purchase subject property unless and
until a written agreement for the purchase of the property has been fully
executed, delivered and approved by the owner.
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Investment Overview / Property HighlightsINVESTMENT HIGHLIGHTS:
PROPERT Y HIGHLIGHTS:
• Established site since 1996
• New Recast Eleven (11)+ year Lease with (4) Four (5) Five year options each with 10%
increases
• NNN Lease with Bojangles’ Restaurants, Inc. Corporate
• Tenant has committed to remodel the building in 2020
• Bojangles’ operates over 750 locations in 12 states and of those over 300 are situated in NC
• Located on the inside of the I-485 Beltway approx 7 miles from Charlotte CBD
• High Traffic Count: Sunset Rd - 29,000 VPD
Location: 4322 Sunset Rd, Charlotte, NC 28216 (Mecklenburg County)
Building: 3,640+/- SF Quick Service Resturant (QSR) Building
Land Area: 1.688+/- Acres
Parking Spaces: 64 Spaces
Zoning: General Commercial
Construction: Built in 1996; Brick over Metal Structure
Site: This Bojangles’ Restaurant is located on the south side of Sunset Rd in Charlotte, NC. It is approximately 7 miles to
Downtown Charlotte, 11 miles to the Charlotte Douglas International Airport and just west of Interstate 77 at Exit 16.
Bojangles’
Actual Photo
Charlotte, North Carolina
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Lease InformationSALES SUMMARY
Purchase Price $1,550,000
CAP Rate 5.61%
LEASE INFORMATION
Tenant Bojangles’ Restaurants, Inc.
Lease Term 11 Years
Annual Rental
Renewal Options
Current Rent thru 12/10/2020 $101,935 Years 2-6: 12/11/2020-12/10/2025 $87,000 Years 7-11: 12/11/2025-12/10/2030 $94,000
Four 5 Year Options each with 10% Annual Increases
Current Lease Expiration Date December 31, 2030
Lease Type NNN
Landlord Responsibilities None
Representative Photo
Bojangles’
Representative Photo
Actual Photo
Charlotte, North Carolina
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Bojangles’
Regional MapCharlotte, North Carolina
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Bojangles’
Local AerialCharlotte, North Carolina
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Local Aerialcypresscommercial.comBojangles’Charlotte, North Carolina
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Site Aerial
Bojangles’Charlotte, North Carolina
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Bojangles’
Site PlanCharlotte, North Carolina
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Bojangles’
Charlotte, North Carolina Charlotte is the largest city in the state of North Carolina. It is the county seat of Mecklenburg County and the second-largest city in the
southeastern United States. Charlotte is also the third largest growing major city in the United States. Charlotte, known as the Queen City,
is home to the corporate headquarters of Bank of America and the east coast operations of Wells Fargo, which along with other financial
institutions makes it the second largest banking center in the United States. Charlotte has nine Fortune 500 companies in its metropolitan area.
Bank of America Stadium, home of the Carolina Panthers, is located in uptown Charlotte as well as the Time Warner Cable Arena where the
Charlotte Hornets Basketball team plays.
Bank of America Stadium
Charlotte, North Carolina
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Bojangles’
Tenant SummaryBojangles’ was founded in 1977 and today operates 759 restaurants in 11 southeastern states. About half
of the stores are owned and operated by corporate; the other half are owned by franchisees. “Bojangles’
Famous Chicken n’ Biscuits” is a regional chain of quick service resturants specializing in spicy Cajun fried
chicken and buttermilk biscuits. Headquartered in Charlotte, North Carolina, Bojangles’ has the second
highest average per unit sales in the chicken fast food segment ahead of Popeye’s, KFC, Zaxby’s and
Church’s Chicken. Only Chick-Fil-A does more dollar volume per store.
The Wall Street Journal has ranked Bojangles’ as one of “25 High-Performing Franchises across all
industries.” Among other recognitions, Entrepreneur Magazine has named Bojangles’ the number one
resturant in the chicken category. QSR Magazine also has listed Bojangles’ in its Top 10. Franchise Deals,
Inc. magazine has listed Bojangles’ among the fastest frowing private companies for the last several years.
Bojangles’ Restaurants, Inc. was acquired by Advent International in 2011. Advent International is one
of the world’s leading global buyout firms with offices in 17 countries on four continents. Advent took
Bojangles’ public on May 8, 2015. The stock trades on the NASDAQ Exchange under the ticker symbol
“BOJA.”
On November 6, 2018, Duration Capital Management and The Jordan Company announced plans to
acquire Bojangles’ in a $593 million transaction. The offer received unanimous approval from Bojangles’
Board of Directors and closed in January of 2019. Randy Kibler, Bojangles’ CEO, said, “the new management
group is committed to maintaining the qualities of the brand that have sustained it for over four decades”.
Representative Photo
Charlotte, North Carolina
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POPULATION 1 mile 3 miles 5 miles
2024 Projected Population 6,162 64,298 177,019
2019 Population 5,822 59,051 162,950
2010 Population 5,160 48,458 136,650
2000 Population 2,579 27,419 100,875
Growth Rate 2000-2010 7.18% 5.86% 3.08%
Growth Rate 2010-2019 1.31% 2.16% 1.92%
Growth Rate 2019-2024 1.14% 1.72% 1.67%
Bojangles’
Demographics
HOUSEHOLDS
2019 Total Households 1,801 21,427 61,292
2024 Total Households 1,898 23,277 66,652
2000-2010 Annual Rate 7.65% 5.46% 3.09%
2010-2019 Annual Rate 1.19% 2.05% 1.90%
2019-2024 Annual Rate 1.05% 1.67% 1.69%
2019 Median Household Income $48,338 $50,880 $50,674
2019 Average Household Income $57,742 $64,996 $66,231
Charlotte, North Carolina
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