Historical Retail Sale Listing - O'Charley's Restaurant

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O'Charley's Restaurant

521 Huffman Mill Road, Burlington, NC 27215

N/A

6,650 SF | Retail

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Retail Property - Off Market

Price:
N/A
Building Size:
6,650 SF
Property Type:
Retail
Property Sub-type:
Restaurant
Property Use Type:
Net Lease Investment with
10+ years left on lease
Cap Rate:
8.48%
Occupancy:
100%
Tenancy:
Single
Year Built:
1999
Lot Size:
1.81 AC
Listing ID
17406902
Last Updated
over 1 year ago

Highlights

  • 11.5+/- Years Remaining on Initial Lease Term
  • Absolute NNN Lease - No Landlord Responsibilities
  • Publicly Traded Tenant - 'B-' S&P Rating
  • Corporately Guaranteed Lease
  • Annual Rental Increases
  • Nearby Retailers - Walmart, Dick's, Dillards, Kohl's, JC Penney

Description

There are approximately 11.5 years remaining on this absolute triple net O'Charley's corporate lease with annual rental increases. The rent increases by 70% of CPI (U.S. City Average, all Urban Consumers on the 1982-1984 =100 index) not to exceed 1.75% in years 6-15, then 50% of the CPI which shall not exceed 1.25% during years 16-20 and during option periods. This lease is absolute triple net providing for no landlord responsibilities.

O' Charley' s is a 230+/- location restaurant chain headquartered in Nashville, TN. O'Charley's also operates other casual dining restaurants in the United States under the brand of Ninety Nine and Stoney River Legendary Steaks. They currently have a credit rating of 'B-' from Standard & Poors.

The subject property is a 6,650+/- square foot O'Charley's Restaurant located on 1.81+/- acres in Burlington, NC as an outparcel to KMart along Huffman Mill Road, a major retail corridor in the Burlington area. Located about 1/2 mile off of Interstate-40/85, the property is within the immediate vicinity of other retailers such as Walmart, Chick-Fil-A, McDonald's, JC Penney, Dillards, Kohl's, Dick's, KFC, and the Holly Hill Shopping Mall. The average daily traffic count on Huffman Mill Road was reported as 31,000 in 2003.

Map of 521 Huffman Mill Road, Burlington, NC 27215 (Alamance County)

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Created 11/8/2011