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Chick-fil-A | Rockingham, NC 905 E Broad Ave 4,982 SF Retail Building Rockingham, NC 28379 $6,658,000 ($1,336.41/SF) 4.70% Cap Rate
INVESTMENT HIGHLIGHTS
- New 15-year absolute NNN corporate lease with 10% rental increases every five (5) years
- Chick-fil-A hit a milestone in 2023, with systemwide sales reaching $21.6B, beating 2022’s total of $18.8B
- Chick-fil-A’s drive-thru locations have shown impressive growth in sales volume over recent years, with locations averaging approximately $9M in 2023
- Thirteen (13) option periods of five (5) years each, providing an excellent long-term investment opportunity
- The average revenue for non-mall Chick-fil-A locations reached about $9.4M in 2023, up from $8.67 million in 2022
- In 2024, Chick-fil-A opened approximately 75 new locations across various regions
EXECUTIVE SUMMARY
Positioned on Broad Avenue, the property benefits from 17,500 daily vehicles passing directly in front of the site, ensuring steady exposure for Chick-fil-A. The absolute NNN lease eliminates landlord responsibilities, providing stable and predictable income backed by a proven tenant. Featuring a 15-year lease with 10% rent escalations every five years, the property offers consistent NOI growth and long term security. The 4,982 SF facility is situated on a 1.78-acre site, equipped with a dual-lane drive-thru and ample parking to accommodate peak-hour traffic. Chick-fil-A’s average annual unit sales of $8.5 million positions the tenant as a reliable and financially secure operator. Built-to-suit construction allows property owners to depreciate improvements, enhancing the investment’s after tax returns.
PROPERTY FACTS
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
4,982 SF
Building Class
B
Year Built
2024
Price
$6,658,000
Price Per SF
$1,336.41
Cap Rate
4.70%
NOI
$312,923
Tenancy
Single
Building Height
1 Story
Building FAR
0.06
Lot Size
1.78 AC
Parking
88 Spaces (17.66 Spaces per 1,000 SF Leased)
Frontage
403’ on Broad Ave
AMENITIES
- Drive Thru
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 747206-29-8483 | Improvements Assessment | $1,374,175 |
| Land Assessment | $816,075 | Total Assessment | $2,190,250 |
PROPERTY TAXES
Parcel Number
747206-29-8483
Land Assessment
$816,075
Improvements Assessment
$1,374,175
Total Assessment
$2,190,250
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Chick-fil-A | Rockingham, NC | 905 E Broad Ave
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