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299 Jonestown RdWinston-Salem, NC 27104
City BBQ | Winston-Salem, NC | 6.50% Cap
Asset ClassRetail
Cap Rate6.5%
City BBQ | Winston-Salem, NC | 6.50% Cap
overview of deal

Overview

Atlantic Capital Partners has been exclusively engaged to solicit offers for the sale of City BBQ | Winston Salem, NC. The Premises is leased to City BBQ for a 10 year initial term, with three (3) - five (5) year options. The Asset is well positioned directly off of Jonestown Rd and located in the main retail hub in Winston Salem, NC.

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Investment Highlights

FAST GROWING BRAND W/ HIGH SALES

  • City BBQ currently has over 70 locations | Expected growth of 100+ stores by 2025 | City BBQ AUV is $3.7M

ATTRACTIVE LEASE FUNDAMENTALS

  • 10 Year Abs. NNN - Ground Lease | 10% rental increases every 5 years including options | Three (3) - five (5) year options | No LL responsibilities

NEW CONSTRUCTION

  • Newly built City BBQ with drive thru | Warranties will be assigned to the new owner

STRONG SURROUNDING DEMOGRAPHICS

  • Over 50K people live within a 3-mile radius | Average household income exceeding $85K | More than 165K residents live within a 15 minute drive time

HIGH VISIBILITY IN MAJOR RETAIL HUB

  • More than 20.5K cars travel Jonestown Rd a day | Over 1.9MSF of retail located in 1 mile radius | Nearby National Tenant’s include: Walmart Supercenter, Hobby Lobby, Target, & Home Depot

PIEDMONT TRIAD MSA

  • Over 1.7M people live in the MSA | Total GDP produced by the MSA exceeds $41B | Home to two fortune 500 companies (Lab Corp, Hanesbrands)
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299 Jonestown RdWinston-Salem, NC 27104

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Listing provided by Revere CRE