Hooters Restaurant with Absolute Net
For Sale
Contact for pricing
Pending
1001 Claren Circle, Morrisville, NC 27560
The building was remodeled in 2016 and is leased through 10/31/2035 with two five-year options.
Property SizeContact for details
Days on Market144
Property Features for 1001 Claren Circle
General Information
Standard status
Pending
Property subtype
Retail
Listing Agency:
Marcus & Millichap - Raleigh
(336) 217-7970
Listed By:
Donald Gilchrist · License #NC 241055
Source:
Crexi
Added: Apr 10
Changed: Aug 30
Last Checked: Aug 30 at 7:50PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Marcus & Millichap - Raleigh
Investment Insights
Based on property information with market context.
This conventional restaurant property includes a 4,250-square-foot building on 1.25 acres. Constructed for Hooters in 2004, the facility was remodeled in 2016 and operates under an absolute net lease to Hooters of America, LLC. The lease runs through 10/31/2035, includes two five-year renewal options, and provides 10% escalations.
The property is located at 1001 Claren Circle in Morrisville, North Carolina, approximately 1/2 mile from Interstate 40 and 2 miles south of Raleigh-Durham International Airport. Nearby lodging includes Sheraton, Courtyard, Holiday Inn, Extended Stay, La Quinta, Days Inn, Holiday Inn Express, and Staybridge Suites.
The site is adjacent to Research Triangle Park, a 7,000-acre campus with 200+ companies and over 46,000 full-time employees. The surrounding business base includes Cisco Systems, IBM, NetApp, GlaxoSmithKline, RTI International, Biogen, Credit Suisse, IQVIA, Lenovo, BASF, and Fidelity Investments.
The property is located at 1001 Claren Circle in Morrisville, North Carolina, approximately 1/2 mile from Interstate 40 and 2 miles south of Raleigh-Durham International Airport. Nearby lodging includes Sheraton, Courtyard, Holiday Inn, Extended Stay, La Quinta, Days Inn, Holiday Inn Express, and Staybridge Suites.
The site is adjacent to Research Triangle Park, a 7,000-acre campus with 200+ companies and over 46,000 full-time employees. The surrounding business base includes Cisco Systems, IBM, NetApp, GlaxoSmithKline, RTI International, Biogen, Credit Suisse, IQVIA, Lenovo, BASF, and Fidelity Investments.
Key Highlights
- 4,250 square foot restaurant building on 1.25 acres
- Constructed for Hooters in 2004 and remodeled in 2016
- Absolute net lease runs through 10/31/2035
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
533
Businesses Nearby
149k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 51%
Shops & Services 33%
Hotels & Casinos 16%
Cracker Barrel Old Country Store
Dining
25,999 visits/mo
0.2 miles
Circle K
Shops & Services
25,007 visits/mo
0.4 miles
Bojangles' Famous Chicken 'n Biscuits
Dining
17,953 visits/mo
0.1 miles
Mobil
Shops & Services
13,786 visits/mo
0.2 miles
7-Eleven
Shops & Services
9,073 visits/mo
0.2 miles
Demographics for 27560, NC
38,959
Population
17,764
Households
2.2
Avg Household Size
33
Median Age
73%
College-Educated
96%
High-School Grad
27.4 sq mi
ZIP Area
1,422
Density / Sq Mi
$117,340
Median Household Income
$70,040
Median Earnings
$1,760
Median Rent
$466,900
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - The building was remodeled in 2016 and is leased through 10/31/2035 with two five-year options.
Where is this conventional restaurant located?
The property is located at 1001 Claren Circle Morrisville, NC.
What are key features of this property?
This property features: 4,250 square foot restaurant building on 1.25 acres; Constructed for Hooters in 2004 and remodeled in 2016; Absolute net lease runs through 10/31/2035
