Dave's Hot Chicken | 2476 Cherry Rd
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Dave's Hot Chicken 2476 Cherry Rd
2,000 SF Retail Building Rock Hill, SC 29732 £1,911,034 (£956/SF) 6.20% Net Initial Yield
Investment Highlights
- ATTRACTIVE LEASE FUNDAMENTALS WITH ANNUAL RENT INCREASES
- FAST GROWING BRAND WITH EXPERIENCED OPERATOR
- HIGH VISIBILITY IN MAJOR RETAIL CORRIDOR
Executive Summary
FAST GROWING BRAND WITH EXPERIENCED OPERATOR
- Dave’s Hot Chicken currently has over 199 locations, and was awarded America’s Fastest Growing Restaurant Chain in 2023 (Technomic)
- Systemwide sales increased 156% from 2021 to 2022
- Multi-Unit operator that operates both Jersey Mikes and Dave’s Hot Chicken
ATTRACTIVE LEASE FUNDAMENTALS WITH ANNUAL RENT INCREASES
- Fifteen year ground lease provides next owner with zero landlord responsibilities
- 2.5% annual rent increases throughout the initial term and option periods
CHARLOTTE MSA TAILWINDS
- Charlotte MSA has added more than 135K people from 2020 to 2023, making it the 5th fastest growing city in the Country
- Charlotte forecasts a 45.2% job growth over the next 10 years
HIGH VISIBILITY IN MAJOR RETAIL CORRIDOR
- More than 32K cars travel Chery Rd a day
- Approximately 0.6 miles to I-77 (71.9K VPD)
- Over 1.7MSF of retail located in 1-mile radius with 18K of absorption in past 12 months, with 1.0% vacancy rate
- Nearby National Tenant’s include: Publix, Chick-Fil-A, Aldi, and McDonald’s
EASILY ACCESSIBLE LOCATION
- Ingress and egress on Cherry Rd (32K VPD)
- Cross-access with Aldi shopping center, providing access to Anderson Rd (20K VPD) which feeds into a signalized intersection on
Cherry Rd
RECENTLY RENOVATED BUILDING
- Recently Renovated Building
- Existing QSR that has been renovated and retrofitted to suit the Tenant’s newest prototype
- Existing drive through
- Dave’s Hot Chicken currently has over 199 locations, and was awarded America’s Fastest Growing Restaurant Chain in 2023 (Technomic)
- Systemwide sales increased 156% from 2021 to 2022
- Multi-Unit operator that operates both Jersey Mikes and Dave’s Hot Chicken
ATTRACTIVE LEASE FUNDAMENTALS WITH ANNUAL RENT INCREASES
- Fifteen year ground lease provides next owner with zero landlord responsibilities
- 2.5% annual rent increases throughout the initial term and option periods
CHARLOTTE MSA TAILWINDS
- Charlotte MSA has added more than 135K people from 2020 to 2023, making it the 5th fastest growing city in the Country
- Charlotte forecasts a 45.2% job growth over the next 10 years
HIGH VISIBILITY IN MAJOR RETAIL CORRIDOR
- More than 32K cars travel Chery Rd a day
- Approximately 0.6 miles to I-77 (71.9K VPD)
- Over 1.7MSF of retail located in 1-mile radius with 18K of absorption in past 12 months, with 1.0% vacancy rate
- Nearby National Tenant’s include: Publix, Chick-Fil-A, Aldi, and McDonald’s
EASILY ACCESSIBLE LOCATION
- Ingress and egress on Cherry Rd (32K VPD)
- Cross-access with Aldi shopping center, providing access to Anderson Rd (20K VPD) which feeds into a signalized intersection on
Cherry Rd
RECENTLY RENOVATED BUILDING
- Recently Renovated Building
- Existing QSR that has been renovated and retrofitted to suit the Tenant’s newest prototype
- Existing drive through
Property Facts
Sale Type
Investment NNN
Sale Conditions
Property Type
Retail
Property Subtype
Building Size
2,000 SF
Building Class
C
Year Built
2005
Price
£1,911,034
Price Per SF
£956
Net Initial Yield
6.20%
NOI
£118,501
Tenancy
Single
Number of Floors
1
Building FAR
0.06
Land Acres
0.82 AC
Zoning
Commercial
Amenities
- Signage
MAJOR TENANTS
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
- Dave's Hot Chicken
- Accommodation and Food Services
- -
- -
- Triple Net
- May 2039
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
| Dave's Hot Chicken | Accommodation and Food Services | - | - | Triple Net | May 2039 |
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 6620701078 | Improvements Assessment | £16,937 |
| Land Assessment | £22,681 | Total Assessment | £39,617 |
PROPERTY TAXES
Parcel Number
6620701078
Land Assessment
£22,681
Improvements Assessment
£16,937
Total Assessment
£39,617
-
Mike Lucier -
David Hoppe -
Ben Olmstead -
Atlantic Capital Partners
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Dave's Hot Chicken | 2476 Cherry Rd
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