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Eden, NC - Little Caesars

808 S Van Buren Road | Eden, NC 27288

$1,467,000

Price

Cap Rate

$102,710

NOI

100%

Occupancy

1,790

± SF Offering GLA

0.46

± AC Land Area

Description

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, freestanding, drive-thru equipped, Little Caesars investment property located in Greensboro, North Carolina. The tenant, Little Caesars, recently signed a brand new 25-year lease with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 1.50% annual rental increases starting in year 6 and continuing throughout the initial term and options, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management-free investment opportunity for a passive investor. On average, stores with drive-thrus experience higher sales than those without. Little Caesars is the third largest pizza chain in the world, with stores in each of the 50 U.S. states and 27 countries and territories.

Location

Little Caesars is located along S. Van Buren Rd. which averages 26,000 vehicles per day. The property’s significant street frontage and large pylon sign along S. Van Buren Rd. creates excellent visibility for the site. Furthermore, the Little Caesars is ideally situated near numerous nearby national/credit tenants including Walgreens, CVS Pharmacy, Davita, AutoZone, Dollar Tree, O’Reilly Auto Parts, Food Lion, Truist, Verizon, and many more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. The site benefits from close proximity to UNC Health Rockingham, a 108 bed regional medical center, further increasing consumer traffic to the site. The 5-mile trade area is supported by over 23,000 residents and 8,000 employees. Residents within a 1-mile radius of the subject property have an average household income of $74,015.

Documents & Links

	View	Email
Offering Memorandum

Contact

Matthew Mousavi
Sr Managing Principal & Co-Head of National Net Lease
949.698.1116949.698.1116[email protected]CA #: 01732226
Patrick Luther, CCIM
Sr Managing Principal & Co-Head of National Net Lease
949.698.1115949.698.1115[email protected]CA #: 01912215