Bojangles (Ground Lease)

818 NC 24 E - Albemarle NC 28001

LTV (Loan to Value)	65.00%	Current NOI	$100,000.00
Interest Rate	4.250%	Capital Rate	5.000%
Fixed Term	10 Years	Land Area	0.94 Acres
Amortization	25 Years	Lease Type	Absolute Net
Loan Amount	$1,300,000.00	Property Type	Retail
Payment	$7,042.60	Property Lease	Food Service
Bulding Size	2,994 SF	Remaining Terms	11 Years

Location Description

NNN Lenders is pleased to offer to qualified investors the opportunity to acquire 100% fee-simple interest in the land leased to Bojangles’ (the “Property”) located in Albemarle, NC.Building on 30 years of successful operating history at this 0.94 acre site, Bojangles’ has recently committed to a new 10-year extended term which will commence in May 2016. The extended ground lease features a 10% rent increase in year 6, and a percentage rent clause for annual sales in excess of $2,000,000. The lease is absolute net in nature, with no landlord responsibilities whatsoever, and there are no remaining options for extension. The Property is an outparcel to a Lowe’s Home Improvement store, situated on NC-24 (15,977 VPD) near its intersection with Main Street (12,969 VPD) in Albemarle’s core commercial district. Other tenants in the immediate vicinity include Belk, Big Lots, Save-a-Lot, Ingles Market, Taco Bell, Wendy’s, Tractor Supply and Walmart Supercenter.

Highlights

Popular Concept with 30 Years Site History – Founded in North Carolina in 1977, Bojangles’ Albemarle location opened in 1985Recent…

Property Description

Albemarle is a city and the county seat of Stanly County, North Carolina. The population was 15,903 in the 2010 Census.Albemarle has been a manufacturing center since the latter part of the 19th Century. The earliest industries in Albemarle well into the 20th century were textile manufacturers. Over the past several decades, the community has seen a transition into a more diversified manufacturing base. Although textiles and apparel are still an important component of the local economy, other industries established very successful operations in Albemarle. Among the largest employers in Albemarle are IAC, Preformed Line Products, Gentry Mills, American Fiber and Finishing, Masterpiece Housing, Conveyor Components Inc. and Nabell, Inc.