Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the single-tenant Chick-Fil-A at 101 Village Center Drive in Chapel Hill, North Carolina (“Property” or “Asset”). The Property is operating on an absolute NNN ground lease lease with ±16.7 years of primary lease term remaining, 10% rent escalations every 5 years and nine, five-year options. Chick-Fil-A recently acquired an additional 0.35 acres for expansion at the site.

NC Broker of Record: Pete Pitroff: License #: 163984

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Attributes

Asking price

€3,277,000

Cap rate

NOI

€131,000

WAULT

16.7 years

Land area gross

0.75 ha

Building area net

418 m²

Year built

2023

Media

Investment Highlights

Absolute NNN ground lease with ±16.7 years of primary lease term remaining
4 miles north of UNC Chapel Hill with 34,000+ students
Dual drive-thru lanes, maximizing long-term operational relevance
Within Carraway Village – the largest greenfield development in Chapel Hill in the past decade
One of the few approved drive-thru sites in Chapel Hill due to restrictive permitting
Located off I-40 exit 266, one of the busiest interchange with 77,000+ VPD, with a new I-40 slip ramp currently under construction
Dense residential development with accessibility to 1,200+ residents within a 5-minute walk
3 miles from Carolina North Campus, UNC-Chapel Hill’s 250-acre satellite campus
Chick-Fil-A is the most profitable QSR franchisee on a per-location basis in the U.S.