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Gastonia, NC - The Juicy Crab
3628 E. Franklin Boulevard | Gastonia, NC 28056
$1,725,000
Price6.7%
Cap Rate$115,560
NOI4,815
± SF Offering GLA1.28
± AC Land AreaDescription
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, The Juicy Crab investment property located in Gastonia, North Carolina (Charlotte MSA). The tenant, The Juicy Crab has over 13 years remaining in their initial lease term with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 7% rental increases every 5 years throughout the initial term and at the beginning of each option period, 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. Today, The Juicy Crab Franchise has 56 restaurants throughout the United States and is a market leader in the seafood restaurant service market.
Location
The Juicy Crab is located along E Franklin Blvd, which averages 41,000 vehicles passing by daily. E Franklin Blvd, is a major retail east/west traveling thoroughfare serving the city of Gastonia. The Juicy Crab property is located across from Franklin Square III, a 454,000 square foot center which features national/credit tenants including Kohl’s and PetSmart. The property is located less than 2 miles east of Eastridge Mall, a 1,112,000 square foot Belk anchored shopping mall. In addition, The Juicy Crab is in the center of a primary retail corridor with other nearby national/credit tenants including a Walmart Supercenter, Sam’s Club, The Home Depot, Lowe’s Home Improvement, Dick Sporting Goods, ALDI, Target, and more, further increasing consumer traffic to the site. The 5-mile trade area is supported by a population of over 112,000, with an average household income of $82,960.
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