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Zaxby's | 20yr Abs NNN | 1.5% Annual Bumps 214 Cedar Springs Rd 2,800 SF Retail Building Spartanburg, SC 29302 $5,627,009 CAD ($2,009.65 CAD/SF) 6% Cap Rate

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Investment Highlights

20-Year Absolute NNN Lease | Strong Franchisee Guaranty
High-Visibility Location | Strong Regional Connectivity
Strong Demographics In 5/3-Mile Trade Area

Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
Outparcel to Shopping Center | Surrounded by National Tenants
Brand Recognition | Established Southeast QSR Concept

Executive Summary

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, Zaxby’s investment property located in Spartanburg, South Carolina. The tenant, ZaxBax Spartanburg, LLC signed a 20 year lease with over 19 years remaining. The lease features 1.5% annual rental increases throughout the term steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for an out of state investor.

Property Facts

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Fast Food

Building Size

2,800 SF

Building Class

Year Built/Renovated

2007/2024

Price

$5,627,009 CAD

Price Per SF

$2,009.65 CAD

Cap Rate

NOI

$337,582 CAD

Tenancy

Single

Building Height

1 Story

Building FAR

0.07

Lot Size

0.96 AC

Zoning

B-1 - Neighborhood Shopping Center

Parking

29 Spaces (10.36 Spaces per 1,000 SF Leased)

Frontage

222’ on Cedar Springs

Corner Lot
Dedicated Turn Lane

Restaurant

Signage

Signalized Intersection

Accommodation and Food Services
99,999 SF
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The Zaxby's story begins in 1990, when two boyhood friends in Statesboro, GA founded a fried chicken restaurant that did things differently. When they elevated chicken fingers and wings from appetizers to entrees, they couldn’t have imagined how quickly demand would skyrocket. Their happy customers across the Southeast know them best for their craveable menu, from chicken fingers and wings served just the way you like them to signature sauces, made-to-order Zalads, and irrezistable sides. It’s the second-to-none food that brings people to their restaurants, but it’s the way they make them feel that keeps them coming back.