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4411 New Bern AveRaleigh, NC 27610
Chick-Fil-A | Raleigh, NC | 20 Yr-Lease
Asset ClassRetail
Cap Rate4.25%
New Built Chick-Fil-A on Large Parcel
overview of deal

Overview

Atlantic Capital Partners has been exclusively engaged to solicit offers for the sale of Chick-Fil-A | Raleigh, NC. The Premises is ground leased to Chick-Fil-A for a 20 year initial term. The Asset is well positioned on a major thoroughfare in Raleigh, NC and is located in the surrounded by hundreds of apartments and retailers.

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Investment Highlights

Year Built
2024

Corporate Guarantee from Strong Tenant

  • Chick-Fil-A currently operates over 3,000 locations
  • Employs over 200,000 people
  • 2022 U.S. system sales totaled $18.8B (up 13% from 2021)
  • 3rd largest fast-food chain in the Country by sales volume (QSR Magazine)

Attractive Lease Fundamentals

  • 20 year ground lease provides next owner with zero landlord responsibilities
  • 10% rental increases in option periods

Strong Surrounding Demographics in High-Growth MA

  • Approximately 200k people live in a 5-mile radius
  • AAHI exceeds $100k in a 1-mile radius
  • Raleigh ranked as the 2nd fastest growing metro from 2010 to 2024

Nearby Other Major Retailers and Apartments

  • The subject site is located on a Walmart (over 1.6M visits/yr) outparcel
  • Over 1.2MSF of retail space is located in a 1-mile radius, boasting a 1.3% vacancy rate
  • Approximately 1,173 apartments are located within 1-mile radius

New Construction on Large Parcel

  • Newly built Chick-Fil-A with the double drive through prototype
  • The parcel has its own dedicated parking lot
  • Subject site is approximately 1.65 acres

A Top Performing Market Nationally

  • Raleigh, NC ranked #3 in 2023 of best residential markets (Rocket Mortgage)
  • Raleigh forecasts a 44% job growth over the next 10 years (3.0% growth from 2021 to 2022)
  • Raleigh ranked #3 in bets place to live for 2023-2024 (U.S. News)
deal gallery image
deal gallery image
4411 New Bern AveRaleigh, NC 27610

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Listing provided by Revere CRE