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Caribou Coffee 130 NC Highway 801 S 534 SF Retail Building Advance, NC 27006 $2,117,188 ($3,964.77/SF) 6.40% Cap Rate
Investment Highlights
- Attractive Lease Fundamentals
- Name Brand Tenant with New Drive-Thru Prototype
- High Earning Demographics
Executive Summary
Attractive Lease Fundamentals
- 10 year lease provides next owner with stable cash flow for the next decade
- 10% rental increases in primary term and in option periods
- 3 x 5 year option periods
Name Brand Tenant
- Caribou Coffee has over 700 locations worldwide
- Caribou Coffee is a subsidiary of Panera Brands (parent company of Panera Bread and Einstein Bagels)
High Earning Demographics
- Average household income exceeds $116K in a 3-mile radius
- Over 17K people live within a 3-mile radius
Easily Accessible to Major Interstate
- Subject site is located at a full access interchange on Hwy 801 (14.5K VPD) with access to Hwy 158 (13K VPD)
- Half mile from I-40 (51.5K VPD) exit, which is a major logistics and commuter interstate
Near Market Drivers
- Atrium Health Wake Forest Baptist Davie Hospital (~0.8 miles) a 50 bed hospital
- Approximately 2 miles to Bermuda Run Country Club, an 18 hole golf course, tennis and fitness center
New Construction of “Coffee Cabin” Prototype
- New building with Caribou’s new Coffee Cabin Concept, which maximizes service efficiency, reduces cost, and increase profitability
- New roof and structure with transferable warranties in place
- 10 year lease provides next owner with stable cash flow for the next decade
- 10% rental increases in primary term and in option periods
- 3 x 5 year option periods
Name Brand Tenant
- Caribou Coffee has over 700 locations worldwide
- Caribou Coffee is a subsidiary of Panera Brands (parent company of Panera Bread and Einstein Bagels)
High Earning Demographics
- Average household income exceeds $116K in a 3-mile radius
- Over 17K people live within a 3-mile radius
Easily Accessible to Major Interstate
- Subject site is located at a full access interchange on Hwy 801 (14.5K VPD) with access to Hwy 158 (13K VPD)
- Half mile from I-40 (51.5K VPD) exit, which is a major logistics and commuter interstate
Near Market Drivers
- Atrium Health Wake Forest Baptist Davie Hospital (~0.8 miles) a 50 bed hospital
- Approximately 2 miles to Bermuda Run Country Club, an 18 hole golf course, tennis and fitness center
New Construction of “Coffee Cabin” Prototype
- New building with Caribou’s new Coffee Cabin Concept, which maximizes service efficiency, reduces cost, and increase profitability
- New roof and structure with transferable warranties in place
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Fast Food
Building Size
534 SF
Year Built
2024
Price
$2,117,188
Price Per SF
$3,964.77
Cap Rate
6.40%
NOI
$135,500
Tenancy
Single
Building Height
1 Story
Building FAR
0.02
Lot Size
0.66 AC
Zoning
HB
Parking
21 Spaces
Frontage
403’ on North Carolina 801
Nearby Major Retailers
Property Taxes
| Parcel Number | D8-080-A0-008 | Improvements Assessment | $1,905,330 |
| Land Assessment | $262,670 | Total Assessment | $2,168,000 |
Property Taxes
Parcel Number
D8-080-A0-008
Land Assessment
$262,670
Improvements Assessment
$1,905,330
Total Assessment
$2,168,000
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Caribou Coffee | 130 NC Highway 801 S
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