Bojangles’ Net Lease Investment Opportunity | 6.1% Cap Rate

Highlights:

• Well positioned corner location just off Interstate 520 in Augusta, GA, home of the Masters Golf Tournament, Medical College of GA and many other US Army and university institutions
• Traffic counts of over 20,000 vehicles per day with many national nearby retailers
• NNN lease with 6 years remaining on the initial 16 year term with 3 five year options and rent increases of 10% every five years
• Strong area demographics with a population of 111,000 and average household income of $69,000 within 5 miles
• Operated by BOJ of WNC, the largest Bojangles franchisee in the U.S. with over 122 locations in 5 states

Description:

This Augusta, GA NNN Bojangles’, known for delicious chicken and biscuits, is located on busy Peach Orchard Road with 20,800 vehicles per day. Built in 2015, this ±3,808 SF QSR with drive thru sits on a ±1.17-acre corner site with turn lane in a retail corridor surrounded by numerous retailers including Big Lots, Family Dollar, Tires Plus, Fifth Third Bank, O’Reilly Auto Parts, Circle K, Zaxby’s and more. Five-mile demographics from the property include a population of over 111,000 with an average household income of over $69,000.

Bojangles is located just over a mile north of Interstate 520 in Richmond County, home to the Masters Tournament, the US Army’s Cyber Center of Excellence at Fort Eisenhower and Augusta University (and its Medical College of Georgia). Augusta is approximately 150 miles southeast of Atlanta and about forty-five minutes from Aiken, SC and another 45 minutes to Columbia, SC.

The initial NNN term of 16 years has 6+ years remaining with 10% rent increases every five years and three 5-year renewal options. The tenant, BOJ of WNC, is the largest Bojangles franchisee with 122 locations in North Carolina, South Carolina, Georgia, Ohio, and Tennessee. BOJ of WNC’s Founder & CEO, Jeff Rigsby began working as a Bojangles corporate employee in 1979 and later became its most successful franchisee.

The property is priced at $3,183,918 and a 6.1% cap rate.

Augusta, GA

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