Single-Tenant Drive-Thru
220 Shenstone Boulevard Garner, NC 27529
220 Shenstone Boulevard, Garner, NC, 27529
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For Sale
Contact for pricing
Chick-fil-A is offered under an absolute NNN ground lease with remaining primary term and scheduled rent escalations.
Property Size4,804 SF
Lot Size1.30 Acres
Price / SF$466.28
Days on Market15
Property Features for 220 Shenstone Boulevard
General Information
- Standard status
- Active
- Size
- 4,804 SF
- Lot size
- 1.30 Acres
- Property subtype
- Retail
Building Details
- Year Built
- 2003
Listing agency
JLL - Dallas | Cedar Springs, Texas
Listed by
Caroline Pinkston · License #601565
Source
Crexi
Added: Jul 7 Updated: Jul 20 at 7:31PM Checked: Jul 21 at 6:41AM
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 JLL - Dallas | Cedar Springs, Texas
Investment Insights
Based on property information with market context.
Jones Lang LaSalle Americas, Inc. ("JLL") presents the single-tenant Chick-fil-A at 220 Shenstone Boulevard in Garner, North Carolina. The property is operated on an absolute NNN ground lease structure, with approximately ±4.9 years remaining in the primary lease term. Rent escalations are scheduled at 8.0% every five years, and the lease includes five, five-year renewal options.
The restaurant has been operating at this site for 23+ years and is situated on a large 1.3-acre parcel. The current rent is noted as $95,000, described as below-market rent in the offering materials.
This asset is currently leased to a nationally recognized tenant and is positioned for investors seeking a long-standing, single-tenant NNN ground lease investment profile.
The restaurant has been operating at this site for 23+ years and is situated on a large 1.3-acre parcel. The current rent is noted as $95,000, described as below-market rent in the offering materials.
This asset is currently leased to a nationally recognized tenant and is positioned for investors seeking a long-standing, single-tenant NNN ground lease investment profile.
Key Highlights
- Single‑tenant Chick‑fil‑A at 220 Shenstone Blvd, Garner, NC
- Absolute NNN ground lease with about 4.9 years remaining on the primary term
- Rent escalations of 8.0% every 5 years
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $135.5k | $28.20 |
| − Vacancy | −$7.5k | −$1.55 |
| EGI | $128.0k | $26.65 |
| − OpEx | −$32.0k | −$6.66 |
| NOI | $96.0k | $19.99 |
4,804 SF · lease $28.20/SF/yr · vacancy 5.50% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.37M
$1.20M – $1.60M
NOI $96,016 @ 7.0% cap · market cap 4.29%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Drive through restaurants
Similar For Sale Nearby
FAQs
What type of property is this?
Drive through restaurant - Chick-fil-A is offered under an absolute NNN ground lease with remaining primary term and scheduled rent escalations.
Where is this drive through restaurant located?
The property is located at 220 Shenstone Boulevard Garner, NC.
What is the asking price?
The asking price for this property is $2,240,000.
What are key features of this property?
This property features: Single‑tenant Chick‑fil‑A at 220 Shenstone Blvd, Garner, NC; Absolute NNN ground lease with about 4.9 years remaining on the primary term; Rent escalations of 8.0% every 5 years
