Little Caesars

808 South Van Buren Road, Eden, NC 27288

$1,467,000

Cap Rate 7.00%

Updated: 03.26.24 Posted: 10.17.23 Status: Sold

Summary

Price $1,467,000	Built/Renov 2008	Tenant Little Caesars
Cap Rate 7.00%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 1,790	Lease Start 07-01-2023	#Units 13
Price/SF $819.55	Expiration 06-30-2048	Tenant Type Fast Food/QSR
NOI $102,710	R. Term 23.1	Ownership Fee Simple
Rent/SF $57.38	Increases 1.5%/5/yrs	Pop 5Mi 23,656
Lot/AC 0.46	Options 4/5yrs/1.5%	AHHI 5Mi $57,031

Lease Highlights

Little Caesars recently signed a brand-new 25-year lease with 4 (5-year) options to extend
The lease features 1.50% annual rental increases beginning in year 6 and continuing throughout the initial term and at the beginning of each option
Absolute NNN | Zero landlord responsibilities
Personal guarantee 13-unit operator

Location Description

Little Caesars is located along S. Van Buren Rd. which averages 26,000 vehicles per day. The property’s significant street frontage and large pylon sign along S. Van Buren Rd. creates excellent visibility for the site. Furthermore, the Little Caesars is ideally situated near numerous nearby national/credit tenants, including Walgreens, CVS Pharmacy, Davita, AutoZone, Dollar Tree, O’Reilly Auto...

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Key Features

Dense retail corridor
Near major nationals
Highway location
Top 100 MSA
Brand new lease
Long 20+ yr lease
Store sales reported
Absolute NNN
Annual rent increases
Personal guarantee

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Links

Little Caesars Wikipedia Little Caesars Wikipedia Eden, North Carolina Zip Code 27288 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Little Caesars
Guarantor:Franchisee
Company:Franchisee
# Units:13
Stock:Private

About Tenant

Little Caesars Enterprises, Inc (dba Little Caesars) is the third largest American pizza chain. It operates and franchises pizza restaurants in the United States and internationally in Asia, the...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	1,199	15,516	23,752
2023 Total Population :	1,171	15,590	24,006
2023 Employed Civilian Pop :	447	6,551	10,274
2023 Total Businesses :	182	658	776
2023 Average Household Income :	$ 77,836	$ 62,637	$ 65,290
2023 Total Consumer Spending :	$ 34 M	$ 378 M	$ 614 M
2023 Median Age :	53	46	45
2023 Total Households :	506	6,827	10,598
2023 Pop Age 25+: Bachelor's Degree :	179	1,310	1,991
2023 Average Home Value :	$ 221,536	$ 162,116	$ 163,670

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
South Van Buren Road		2019	23,500	0.02 mi
South Van Buren Road	W Kings Hwy	2019	26,000	0.45 mi
South Van Buren Road	S PkTer	2021	24,000	0.46 mi
West Kings Highway		2019	15,500	0.54 mi
West Kings Highway	S Kennedy St	2021	12,500	0.55 mi
E Kings Hwy	S Pierce St	2004	11,000	0.56 mi
South Van Buren Road		2019	15,000	0.60 mi
W Kings Hwy	Lynrock Ter	2004	17,000	0.90 mi
South Van Buren Road	Devonway St	2021	18,500	0.95 mi
Harrington Highway	Bethlehem Church Rd	2021	7,200	0.98 mi

Listing Broker

Patrick Luther

SRS National Net Lease Group

Contact

420 Listings
80426 Views
204 Sold

Matthew Mousavi

SRS National Net Lease Group

Contact

369 Listings
73159 Views
172 Sold

Patrick Luther

Patrick joined SRS in 2016 with more than 10 years of transactional brokerage experience in the commercial real estate industry and over $1 billion in closed transactions, representing over 300 individual properties. Along with Matthew Mousavi, Patrick co-founded and leads the National Net Lease Group at SRS, the exclusive net lease capital markets platform within SRS, comprised of more than 75 professionals handling all net lease transactions for the firm nationally. He focuses on all types of

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Matthew Mousavi

Matthew is the managing principal and co-founder of the SRS National Net Lease Group, based in Newport Beach, California. SRS’ is the exclusive net lease investment advisory platform across more than 25 offices nationally. SRS is the largest retail estate firm in North America exclusively focused on retail services, of which Matthew is a member of the board. The firm has a track record spanning over 30 years and billions in transaction volume, and represents over 400 retailers throughout the co

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