Church's Investment Offering
10230 Central Ave, Albuquerque, NM
About this Property
Prominent Intersection Adjacent Major Employers
Absolute NNN Ground Lease
20 year Absolute Net Ground Lease, 17 years remaining
10% increases every 5 years
Tenant Information
Lessee: Cajun Realty, LLC a wholy owned subsidiary of Cajun Operation Company d/b/a Church's Chicken
Address: 980 Hammond Drives N.E., Suite 1100, Atlanta, Georgia 30328, U.S.A.
Telephone: (770) 350-3800
Toll Free: (866) 232-4402
Fax: (770) 512-3920
Web: http://www/churchs.com
Employees: 7,000 (est.)
Sales: $300 million (2003 est.)
Incorporated: 1969 as Church's Fried Chicken, Inc.
NAIC: 722211 Limited-Service Restaurants
A division of Cajun Realty, LLC a wholy owned subsidiary of Cajun Operation Company, a Delaware Corporation d/b/a Church's Chicken owns and franchises more than 1,500 fast food chicken restaurants in some 30 states and a dozen countries. About 80 percent of the units are franchised operations. Church's menu centers around Southern-style chicken and features such side dishes as mashed potatoes and gravy, fried okra, cole slaw, Honey Butter Biscuits and Jalapeno Cheese Bombers. In addition to Church's, the parent company owns the Popeyes Chicken & Biscuits chain.
Trade Area Information
The trade area which services this location encompasses not only the Southeast heights, which is one of Albuquerque’s most established trade areas, but also the East Mountain area with over 55,000 residents. This location is prominently located at the intersection of Central Ave and Eubank Blvd., two of the most established arterials in the metropolitan area. Central Ave is the Historic Route 66 and was the first commercial corridor through Albuquerque, which now has 32,800 cars per day. Eubank Blvd, which has 47,100 cars per day, connects the Kirtland Airforce base and Sandia National Laboratories to the south to I-40 and all the way to the far Northeast Heights.
A few of the daytime employment generators in this area include Sandia National Laboratory, Sandia Science and Technology Park and Kirtland Airforce Base, three of New Mexico’s largest employers with over 21,000 employees. The trade area has a very mature and established day and night time population base as well as major national retailer draw. These national retailers include Costco, Wal-Mart Super Center, Sam’s Club, Target, Best Buy, Babies R Us, Office Depot, Office Max, PetSmart, Petco and Home Depot.
For Sale: $1,452,000
Cap Rate: 6.87%
Contact a Broker about this Property
John Sedberry, President - Office:(505) 855-7650
click to email John Sedberry