Freddy’s Frozen Custard & Steakburgers : Sale Leaseback : 5.65% PRICE: . $2,212,389 RENTABLE SF: . 3,053 SF ANNUAL RENT: . $125,000 LOT SIZE: . .869 ACRES CAP: . 5.65% YEAR BUILT: . 2016 20-YEAR LEASE 1100 Kenilworth Ave Suite 210 Click for Map Charlotte, NC 28204 John Lambert, CCIM
[email protected] 704.927.9226 MARKET AERIAL: CONCORD, NC Population 1-Mile 3-Mile 5-Mile 2016 Population 3,781 42,617 121,046 2021 Population 4,195 47,370 134,294 Daytime Employment 5,072 16,951 50,738 2016 Average Household Income $96,353 $97,084 $86,013 2021 Average Household Income $96,353 $97,084 $86,013 2010 Average Home Value $257,729 $223,899 $208,749 LOCATION MAP: CONCORD, NC 3 INCOME AND EXPENSE PRICE $2,212,389 Price Per Square Foot: $724.66 Capitalization Rate: 5.65% Total Rentable Area (SF): 3,053 Lot Size (AC): .869 STABILIZED INCOME Scheduled Rent $125,000 Option Periods 10% increase every 5 years LESS PER SQUARE FOOT Taxes NNN $0.00 Insurance NNN $0.00 Total Operating Expenses NNN $0.00 EQUALS NET OPERATING INCOME $125,000 4 OPERATOR AND GUARANTOR • Tenant: HCI Hospitality is a multi-brand hospitality management company that runs Wildcat Steakburgers, LLC (Guarantor). HCI Hospitality originated in 2002 as a multi- unit owner-operator, and now employs more than 1,600 team members. HCI’s portfolio includes Freddy’s Frozen Custard, owner-operated restaurants, and Woof’s – a regional leader in doggy daycare. Wildcat Steak burgers. LLC (Guarantor) owns and operates 25 Freddy’s Frozen Custard and Steakburgers.