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Wild Wing Cafe 470 Fabian Dr 5,726 SF Retail Building Aiken, SC 29803 $2,444,000 ($426.83/SF) 6.75% Cap Rate
Investment Highlights
- ESTABLISHED REGIONAL RESTAURANT OPERATOR WITH CORPORATE GUARANTY
- AIKEN MSA GROWTH
- POSITIONED IN A DENSE RETAIL NODE
Executive Summary
STRONG LEASE FUNDAMENTALS
- 10% rent increase every 5 years and during options periods
- Absolute NNN providing no Landlord Responsibilities
- Two (2) - Five (5) year option periods
ESTABLISHED REGIONAL RESTAURANT OPERATOR WITH CORPORATE GUARANTY
- Wild Wing is headquartered in Charlotte and has been operating for over 30 years
- 20+ locations across 6 states
- Wild Wing Café est annual revenue is $214.7 million
POSITIONED IN A DENSE RETAIL NODE
- Over 2 MSF of retail space within a 1-mile radius of asset
- Nearby retailers include: Home Depot & Lowes Foods
- Limited new construction in pipeline
AIKEN MSA GROWTH
- Total population of 438,735 K and reaches both GA and SC residents
- Workforce surpasses 250,000 employees anchored by Savannah River Site and Augusta University Health
- AHHI has risen over 20% in the past decade
- MSA growth is fueled by ongoing in-migration from Atlanta, Columbia and Charlotte
DEMOGRAPHIC STABILITY
- In Aiken, 69.7% of households are owner occupied coupled by a low ownership turnover rate
- Between 2022 and 2023, median property values in Aiken rose from $235K to $261K (11% in a single year)
- Surrounding customer base has strong disposable income and home equity
PROXIMITY TO MAJOR REDEVELOPMENT & MIXED-USE HUB
- Former Aiken Mall site is being redeveloped into a mixed use multi-family center
- 256 Class A multi family
- $46 M committed in infrastructure buildout alone for the development site
- Sits along Whiskey Rd (38,600 AADT) anchoring future demand and spillover traffic
- 10% rent increase every 5 years and during options periods
- Absolute NNN providing no Landlord Responsibilities
- Two (2) - Five (5) year option periods
ESTABLISHED REGIONAL RESTAURANT OPERATOR WITH CORPORATE GUARANTY
- Wild Wing is headquartered in Charlotte and has been operating for over 30 years
- 20+ locations across 6 states
- Wild Wing Café est annual revenue is $214.7 million
POSITIONED IN A DENSE RETAIL NODE
- Over 2 MSF of retail space within a 1-mile radius of asset
- Nearby retailers include: Home Depot & Lowes Foods
- Limited new construction in pipeline
AIKEN MSA GROWTH
- Total population of 438,735 K and reaches both GA and SC residents
- Workforce surpasses 250,000 employees anchored by Savannah River Site and Augusta University Health
- AHHI has risen over 20% in the past decade
- MSA growth is fueled by ongoing in-migration from Atlanta, Columbia and Charlotte
DEMOGRAPHIC STABILITY
- In Aiken, 69.7% of households are owner occupied coupled by a low ownership turnover rate
- Between 2022 and 2023, median property values in Aiken rose from $235K to $261K (11% in a single year)
- Surrounding customer base has strong disposable income and home equity
PROXIMITY TO MAJOR REDEVELOPMENT & MIXED-USE HUB
- Former Aiken Mall site is being redeveloped into a mixed use multi-family center
- 256 Class A multi family
- $46 M committed in infrastructure buildout alone for the development site
- Sits along Whiskey Rd (38,600 AADT) anchoring future demand and spillover traffic
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
5,726 SF
Building Class
B
Year Built
2009
Price
$2,444,000
Price Per SF
$426.83
Cap Rate
6.75%
NOI
$165,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.15
Lot Size
0.89 AC
Zoning
commercial - Commercial
Parking
28 Spaces (4.89 Spaces per 1,000 SF Leased)
Frontage
315’ on Fabian Dr
Amenities
- Corner Lot
- Pylon Sign
- Restaurant
- Signage
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- Wild Wing Cafe
- -
- 5,726 SF
- -
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| Wild Wing Cafe | - | 5,726 SF | - | - |
Nearby Major Retailers
Property Taxes
| Parcel Number | 106-16-02-079 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $144,770 |
Property Taxes
Parcel Number
106-16-02-079
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$144,770
Contacts
-
David Hoppe -
Mike Lucier -
Ben Olmstead -
Connor Kuchman -
Ben McCarter -
Atlantic Capital Partners
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Photos
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Wild Wing Cafe | 470 Fabian Dr
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