FOR SALE – NNN Restaurant Simpsonville, 29680 Asking Price: $2,500,000 Cap Rate: 6.1% Bojangles Restaurant # 849

Offering Memorandum Joe Pope National Asset Realty, LLC 1530 Williams Street Columbia, SC 29201 803-446-4457 (c) [email protected] FOR SALE – BOJANGLES RESTAURANT

615 NE Main Street, Simpsonville, South Carolina 29680 PROPERTY HIGHLIGHTS

Tenant Bojangles Corporation

Location 615 NE Main Street

Building 3,500+/- SF

Site 1.26+/- Acres

Parking 58 Spaces

Built 2009

Initial Term 15 Years Lease NNN (with no landlord responsibilities) Actual Site

Annual Rent $152,510.71 (with a 1.5% annual rental increase)

Lease Commencement 2009

Lease Expiration December 31, 2025

Options 3 Five Year Options

Building Single-Tenant, Single Story

Landlord Responsibilities Absolute NNN No Landlord Responsibilities FOR SALE – Bojangles Restaurant 615 NE Main Street, Simpsonville, South Carolina 29680

Demographics 2020 1 Mile Radius 3 Mile Radius 5 Mile Radius

Population 4,766 45,533 119,663

Households 2,013 17,440 44,730

Median Household Income $69,115 $75,687 $78,148

Average Household Income $87,621 $91,463 $95,867

INVESTMENT HIGHLIGHTS Actual Site

2019 Traffic Count – NE Main Street= 17,700 AADT

Absolute NNN Lease With No Landlord Responsibilities

Dedicated Drive-thru FOR SALE – BOJANGLES RESTAURANT Simpsonville, South Carolina 29680

Charlotte

Greenville

Simpsonville Wilmington Columbia

Charleston FOR SALE – BOJANGLES RESTAURANT 615 NE Main Street, Simpsonville, South Carolina 29680

Hillcrest Middle School

NE Main Street 17,700 AADT

Simpsonville Elem. School FOR SALE – BOJANGLES RESTAURANT Simpsonville, South Carolina

Simpsonville, South Carolina is a city located in Greenville County and part of the Greenville MSA. Simpsonville is part of the “Golden Strip” along with Mauldin and Fountain Inn, an area which is noted for having low unemployment due to a diversity of industries including Para- Chem, Kemet, Sealed Air and Milliken.

This Bojangles is strategically located at the corner of NE Main Street and Scarsdale Street. NE Main Street has a daily average traffic count of 17,700. NE Main Street is the main commercial corridor through Simpsonville. Within a 3 mile radius of the site there is population of over 45,000. This Bojangles is also within a quarter of a mile from Sealed Air Corporation which operates 24 hours a day and has approximately 2,500 employees. There is also a middle and elementary school within a half mile.

Bojangles’ Inc. is a Southeastern United States regional chain of fast- restaurants. It is a privately held company. Bojangles began over 40 years ago in Charlotte, NC. Today it has more than 750 locations primarily serving in 12 southeastern states but plans to expand nation wide. They are open for breakfast, lunch and supper. Their menu mainly consists of , biscuits and . They offer the full menu during all operating hours. In 2012, Bojangles' began sponsoring the NASCAR race Bojangles Southern 500.

For 2018 Bojangles reported U.S. system-wide sales of nearly $1.3 billion, up about 1.6% from fiscal 2017’s $1.28 billion. In 2018 Bojangles’ was named the 5th Biggest Chicken Chain in Nation’s Restaurant News’ Top 200 Restaurants. Also in 2018 QSR ranked Bojangles’ 29th in The QSR 50, an annual ranking of the nation’s top limited-service brands. • The information contained in this offering memoranda has been prepared to provide a summary of information. It does not purport to be all-inclusive and is not a substitute for a thorough due diligence investigation. The owner and its representatives make no warranty or representation as to the accuracy of this information.

• National Asset Realty has not verified and will not verify any of the information contained within. The information contained in the offering memorandum has been obtained from sources we believe to be reliable. No legal obligations shall rise from the contents of this DISCLAIMER memorandum.

• By receipt of this memorandum you agree that the information within is of a private nature and that you will keep it confidential. You also agree to hold National Asset Realty harmless from any claim or liability throughout your investigation and or purchase of the property.

• National Asset Realty represents the Seller of this property.