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Bojangles, Orangeburg, SC

Bojangles

Orangeburg, SC

Price $2,800,000
Cap Rate 5.00%
NOI $140,000
Lease Term 15 Years
Lease Type Absolute NNN Lease, With Tenant Responsible For All Taxes, Insurance, And Maintenance, Including Roof, Structure, And Parking Lot
Rental Increases 7.5% Rental Increases Every Five (5) Years
Year Built 2022
Building Size 2,858 SF
Lot Size 0.89 Acres (38,768 SF)
Status Available
Lead Broker Information Vincent Aicale
Executive Managing Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Executive Managing Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Michael T. Yuras, CCIM
Vice Chairman
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Executive Managing Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Investment Highlights

NEW 15-YEAR ABSOLUTE NNN LEASE
» 15-year absolute NNN lease to Bojangles’ Restaurants, Inc. (NASDAQ: “BOJA”)
» More than 780 locations and over $1.37 billion in system-wide sales
» 7.5% rental increases every five years
» Absolute NNN lease requires no landlord management, ideal for an out of area investor
» New 2022 construction featuring dedicated drive-thru for added customer convenience

INFILL LOCATION IN DENSE ORANGEBURG RETAIL CORRIDOR
» Conveniently located near the signalized hard corner of U.S. Route 178/Chestnut Street Northeast and State Road S-38-1637, with excellent visibility and access to 29,100+ vehicles per day
» Central location at the confluence of highly trafficked South Carolina thoroughfares, including U.S. Route 21 and U.S. Route 601 (combined 52,500 AADT)
» Adjacent to Prince of Orange Mall, attracting significant crossover shopping to the location
» Surrounded by notable tenants such as Walmart Supercenter, Lowe’s Home Improvement, T.J. Maxx, Tractor Supply Co., ALDI, and many more
» Beneficial proximity to South Carolina State University (2,900 students, 1,696 employees)

DENSELY POPULATED AREA WITH POSITIVE AND GROWING DEMOGRAPHICS
» 34,019 residents live within five miles of the property
» Average annual household income of $79,331 within a one-mile radius of the site
» Projected population and income increase within 1-, 3-, and 5-mile radii over the next five years, poising Bojangles and Orangeburg for steady concurrent growth
» Gateway to Downtown Columbia, the capital of South Carolina (population 134,057)


Property Description

» The property is conveniently located near the signalized hard corner of U.S. Route 178/Chestnut Street Northeast and State Road S-38-1637, with excellent visibility and access to 29,100+ vehicles per day
» Located in a dense retail corridor, the property is surrounded by notable tenants such as Walmart Supercenter, Lowe’s Home Improvement, T.J. Maxx, Tractor Supply Co., ALDI, and many more
» This Bojangles is adjacent to Prince of Orange Mall, attracting significant crossover shopping to the location
» The site greatly benefits from its proximity to South Carolina State University (2,900 students, 1,696 employees)
» The location serves as a common gateway to Downtown Columbia, the capital of South Carolina (population 134,057)
» Projected population and income increase within 1-, 3-, and 5-mile radii over the next five years poise Bojangles and Orangeburg for steady concurrent growth

Contact Us About This Property

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