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Caribou Coffee 130 NC Highway 801 S 534 SF Retail Building Advance, NC 27006 $2,955,425 CAD ($5,534.50 CAD/SF) 6.40% Cap Rate
INVESTMENT HIGHLIGHTS
- Attractive Lease Fundamentals
- Name Brand Tenant with New Drive-Thru Prototype
- High Earning Demographics
EXECUTIVE SUMMARY
Attractive Lease Fundamentals
- 10 year lease provides next owner with stable cash flow for the next decade
- 10% rental increases in primary term and in option periods
- 3 x 5 year option periods
Name Brand Tenant
- Caribou Coffee has over 700 locations worldwide
- Caribou Coffee is a subsidiary of Panera Brands (parent company of Panera Bread and Einstein Bagels)
High Earning Demographics
- Average household income exceeds $116K in a 3-mile radius
- Over 17K people live within a 3-mile radius
Easily Accessible to Major Interstate
- Subject site is located at a full access interchange on Hwy 801 (14.5K VPD) with access to Hwy 158 (13K VPD)
- Half mile from I-40 (51.5K VPD) exit, which is a major logistics and commuter interstate
Near Market Drivers
- Atrium Health Wake Forest Baptist Davie Hospital (~0.8 miles) a 50 bed hospital
- Approximately 2 miles to Bermuda Run Country Club, an 18 hole golf course, tennis and fitness center
New Construction of “Coffee Cabin” Prototype
- New building with Caribou’s new Coffee Cabin Concept, which maximizes service efficiency, reduces cost, and increase profitability
- New roof and structure with transferable warranties in place
- 10 year lease provides next owner with stable cash flow for the next decade
- 10% rental increases in primary term and in option periods
- 3 x 5 year option periods
Name Brand Tenant
- Caribou Coffee has over 700 locations worldwide
- Caribou Coffee is a subsidiary of Panera Brands (parent company of Panera Bread and Einstein Bagels)
High Earning Demographics
- Average household income exceeds $116K in a 3-mile radius
- Over 17K people live within a 3-mile radius
Easily Accessible to Major Interstate
- Subject site is located at a full access interchange on Hwy 801 (14.5K VPD) with access to Hwy 158 (13K VPD)
- Half mile from I-40 (51.5K VPD) exit, which is a major logistics and commuter interstate
Near Market Drivers
- Atrium Health Wake Forest Baptist Davie Hospital (~0.8 miles) a 50 bed hospital
- Approximately 2 miles to Bermuda Run Country Club, an 18 hole golf course, tennis and fitness center
New Construction of “Coffee Cabin” Prototype
- New building with Caribou’s new Coffee Cabin Concept, which maximizes service efficiency, reduces cost, and increase profitability
- New roof and structure with transferable warranties in place
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Fast Food
Building Size
534 SF
Year Built
2024
Price
$2,955,425 CAD
Price Per SF
$5,534.50 CAD
Cap Rate
6.40%
NOI
$189,147 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.02
Lot Size
0.66 AC
Zoning
HB
Parking
21 Spaces
Frontage
403’ on North Carolina 801
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | D8-080-A0-008 | Improvements Assessment | $2,670,663 CAD |
| Land Assessment | $368,179 CAD | Total Assessment | $3,038,842 CAD |
PROPERTY TAXES
Parcel Number
D8-080-A0-008
Land Assessment
$368,179 CAD
Improvements Assessment
$2,670,663 CAD
Total Assessment
$3,038,842 CAD
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Caribou Coffee | 130 NC Highway 801 S
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