Property Highlights
Quality, long-term investment: This 15-year NNN lease features structured 10 percent rental increases every five years, along with two (2) five-year renewal options. There are no landlord responsibilities associated with this lease.
Award-winning franchisee: The franchisee that operates and will guaranty the lease has successfully operated at this location since 2003. In 2012, this store was the recipient of the coveted Zaxby’s “Golden Zeggy Award” for Operational Excellence, an honor bestowed on franchises with high performance standards, execution and speed of service. This Zaxby’s location has a strong sales record, resulting in a low rent-to-sales ratio due to the tenant being a single-purpose entity (SPE) with multiple franchise locations. Returns will further increase in 2019 when the annual rent increases to $188,100.
Successful, growing trade area: Hope Mills is a growing community located at the gateway to southern Cumberland County off Interstate 95. The city is part of the larger Fayetteville MSA—the fifth largest metropolitan area in the state of North Carolina—which has a population of more than 300,000 and is home to Fort Bragg military base.
Active commercial area: The Property is prominently positioned on the west side of North Main Street across from Walmart and within an active commercial area supported by both residential neighborhoods and a wide variety of national retailers.