Menu Close
t r a n s l a t e

Bojangles' Net Lease Investment Opportunity | 5.7% Cap Rate

1362 Whiskey Road
Aiken, SC 29803
PRICE : $3,495,000
CAP RATE: 5.7%
SITE SIZE: 1.20 Acres


  • Absolute NNN lease with just under 11 years remaining of initial term and three 5-year options and blended Cap Rate over remaining initial term of over 6%
  • No rent concessions were requested by the tenant due to the Pandemic in 2020
  • 10% rent increase in May 2022 and 10% rent increases every 5 years thereafter with three 5-year options
  • Well located, with strong demos, traffic counts and nearby national retailers
  • Strong franchise guaranteed by the largest Bojangles’ franchisee with over 92 locations and growing


This absolute NNN leased Bojangles’, located in Aiken, South Carolina, is operated by the largest franchise operator in the US with over 92 locations in 5 states and growing. The store, built in 2016, is an outparcel to a Fresh Market and Party City-anchored shopping center. As one of the main north-south commercial arteries in Aiken, traffic counts are nearly 15K VPD. Nearby national tenants include Dollar General, Applebee’s, Fairfield Inn & Suites, Home Depot, Kroger, Moe’s Southwest Grill, Pizza Hut, Wells Fargo, and Regions Bank.

Within a five-mile radius, the population is 57,462 with an average household income of $81,062. Aiken, known for its numerous golf clubs and polo fields, is located less than an hour from Augusta, GA, home of The Masters golf course. Major area employers include the U.S. Department of Energy/Savannah River Plant, Bridgestone PSR Plant, Kimberly Clark, Shaw Industries, the University of SC – Aiken, Aiken Regional Medical Centers and more.

The absolute NNN lease runs through April 2032 with three 5-year renewal options. The first 10% rent increase occurs in May of 2022 with future increases of 10% every five years and in the 3 option terms. The cap rate is 5.7% based on the average rent for the next 67 months which includes the upcoming rent Increase in May of 2022.

Bojangles’ , based in NC, first opened its chicken and biscuits concept in 1977. Today, there are over 760 company operated and franchise locations in 14 states. This location is operated and guaranteed by the largest Bojangles’ franchise operator, BOJ of WNC, LLC. The operator is recognized for strong operations, team development and a quality fast casual dining experience. During the Pandemic in 2020, they asked for NO rent concessions. Their expansion plans include continued expansion in the SE and Ohio in the coming year.

Request more information