3355 North Point Pky
Alpharetta, GA 30005
Zaxby's, 11+ Years | Annual Increases · Retail Property For Sale

The subject property is a freestanding Zaxby's restaurant located on North Point Parkway in Alpharetta, GA, one of the most affluent suburbs of Atlanta. The store sits on North Point Parkway at its intersection with Webb Bridge Road. Zaxby's is centrally located within 1 mile of over 4 million square feet of office and retail buildings. Additionally, Alpharetta High School is across the street, with an enrollment of 2,000+. The operator is a veteran regional franchisee who currently have 8 locations. They are committed to this location via the absolute triple net (NNN) lease agreement which commenced in August, 2008. There are 11.5+ years remaining, followed by 4, 5-year renewal options. Annual rental increases of 1.25% begin at the beginning of year 11 and continue for the remainder of the lease term. Zaxby' s is a privately held chain of chicken-focused quick service restaurants offering a broad menu of chicken wings, chicken fingers, sandwiches, salads, and appetizers. The first Zaxby' s was established in 1990 in Statesboro, Georgia, near the Georgia Southern University campus, by childhood friends Zach McLeroy and Tony Townley. It was modeled after a small chicken finger chain in Athens, Georgia that Zach McLeroy frequented while attending the University of Georgia. The company operates primarily in the Southeastern United States, but has made plans to move into the Midwest and Mid-Atlantic soon, and grow to more than 800 locations. Zaxby' s popularity has exploded in the last 10 years, adding nearly 350 stores and reaching a total of 725 locations by 2015. Zaxby' s primarily operates a franchise model with 123 corporate-operated locations. Zaxby' s was recently ranked 25th on QSR magazine' s annual list of the top 50 chains in the quick-service and fast-casual industries; a strong accomplishment given that it maintains a presence in only 16 states. It ranks fourth in the QSR chicken category behind the much larger names of Chick-fil-A, KFC, and Popeye' s.