Investment Highlights
- Brand New, 20-Year, Triple Net (NNN) Lease With Four, Five-Year Tenant Renewal Options
- Lease Commencement Upon Close of Escrow
- 10 Percent Rent Increases Every Five Years Throughout Base Term and Option Periods
- New Location, Built in 2022
- Property Includes a Drive-Thru Lane and Outdoor Seating
- Luihn VantEdge Partners, LLC (LVE) is a Strong Franchisee of Yum! Brands – Owns and Operates Over 200 Restaurants in North Carolina, South Carolina, Virginia, Florida and Arizona, and Employs More Than 4,500 Workers
- Located on Dixie Drive With a Traffic Count of Approx. 37,000 Vehicles Daily
- Outparcel to Hobby Lobby-Anchored Shopping Center – Other Tenants Include Big Lots, Marshalls, Workout Anytime, Rack Room Shoes, Among Others!
Investment Overview
Marcus & Millichap is pleased to present the opportunity to acquire a new Taco Bell in Asheboro, North Carolina. This listing offers a long-term, triple net (NNN) sale-leaseback with no landlord responsibilities. Lease commencement is upon the Close of Escrow (COE) with lease expiration 20 years from COE. There are four, five-year tenant renewal options with 10 percent rent increases every five years throughout the base term and option periods. This is a new location, built in 2022 and includes a drive-thru and outdoor seating.
Luihn VantEdge Partners, LLC is an experienced franchisee who owns and operates over 200 restaurants spanning over five states with more than 4,500 employees.
The property is located on Dixie Drive with a daily traffic count of approximately 37,000 vehicles. This Taco Bell also benefits from being an outparcel to a busy shopping center, anchored by Hobby Lobby with other major tenants including Big Lots, Marshalls, Workout Anytime, and Rack Room Shoes. In addition, the property is also directly across the street from the Asheboro Mall.
The immediate area is a major retail corridor with other surrounding national brands including Walmart Supercenter, Lowe’s, Cinemark Movie Theatre, Planet Fitness, Badcock Home Furniture, Food Lion, Ross, Bealls Outlet, Harbor Freight Tools, Pet Smart, AT&T, Verizon, T-Mobile, PNC Bank, Wells Fargo, Chili’s Grill & Bar, Chick-fil-A, McDonald’s, Wendy’s, IHOP, Walgreens, Holiday Inn Express, Hampton Inn, Fairfield Inn & Suites by Marriott, Comfort Inn & Suites, Nissan, Buick, Chevrolet, Ford, Jeep and many more.
Asheboro is located in the heart of North Carolina’s Piedmont Region, named for the three largest cities in the region: Greensboro, Winston-Salem, and High Point. The metro has approximately 1.7 million people and is expected to add more than 53,000 citizens over the next five years.
Broker of Record
Ben Yelm
Lic #: 303785
