Purchase Price
$2,640,000.00
Dover, NH

Dave's Hot Chicken

For Sale
$165,000.00
ANNUAL RENT
cap rate
6.25%
Investment Highlights
Brand New 15-Year Absolute NNN Lease | Top Grossing Concept
The Property is subject to a new 15-year Absolute NNN lease with 8% rental increases every five years and zero landlord responsibilities, providing for a completely passive investment. The Property is currently undergoing a major renovation which includes adding an additional 800+ square feet to the existing structure.
The lease features three (3) five-year renewal options, each continuing the 8% rental increase schedule.
The lease is backed by the largest Dave’s Hot Chicken franchisee in the Northeast. The locations within the franchisee's current network on average perform far above systemwide AUVs. The franchisee is an experienced operator and holds the development rights for 30 locations in total. The franchisee also recently signed a multi-unit agreement for Mike's Red Tacos, a birria taco concept backed by the investors behind Dave's Hot Chicken.
Dave’s Hot Chicken, which was recently acquired by Roark Capital in June 2025 in a $1 billion deal, is a leader in the chicken QSR industry with approximately 400 U.S. locations and one of the highest average unit volumes amongst chicken concepts at $2.7M+. Dave’s has a strong cult following that is reflected by its strong social media presence and numerous celebrity investors such as Drake, Samuel L. Jackson, and Michael Strahan, amongst others.
Adjacent to Signalized Intersection | Situated on Main Thoroughfare
The Property sits adjacent to the signalized intersection of Central Ave and Weeks Ln/Webb Pl. Central Ave serves as Dover's main retail corridor, with exposure to approximately 25,030 vehicles per day.
The Property is just a half mile from NH Route 16 (Spaulding Turnpike). The turnpike is the major north-south artery in eastern New Hampshire, connecting Dover to Rochester to the north and to Portsmouth and I-95 to the south.
Positioned with Successful QSR Establishments | Proximity to Numerous Major Anchors
In the immediate area of The Property are numerous successful QSR establishments, such as McDonald’s ($5.9M+ in annual card sales, 95th percentile) and Wendy’s ($2M+, 81st percentile), along with Starbucks ($3M+, 87th percentile), Five Guys ($3M+, 98th percentile), Chili’s ($5M+, 78th percentile), Applebee’s ($3M+, 77th percentile), and others.
Less than a mile south are Central Ave’s other retailers including Dover Crossing which is anchored by Shaw's, Petco, and Ace Hardware, along with Hannaford ($44.5M+ in annual card sales, 94th percentile), Walgreens ($21M+, 94th percentile), Planet Fitness, ALDI, Chipotle ($5M+, 96th percentile), and Panera Bread ($4M, 94th percentile), amongst others.
Within a mile north are Walmart Supercenter ($124M+ in annual card sales), Target ($52M+), and Home Depot ($50M+), as well as Tri-City Plaza, which is anchored by Market Basket alongside TJ Maxx, Staples, and Pet Supplies Plus, amongst others.
Situated Amongst Rooftops | $130,000+ Avg HH Income | Near Future Mixed-Use Development
Average household incomes in the area exceed $130,000 for those within 1 mile of The Property and $106,000 for those within 3 miles, providing for greater disposable income.
Directly behind The Property is Granite Village Apartments (120 multi-family units), with other residential communities nearby including Windshire Gardens (102 units) and Princeton Dover Apartments (125 units), amongst others.
Approx. 1.5 miles away is the future Village at River's Edge, a 585,000 SF mixed-use campus set across 200+ acres on the former Liberty Mutual campus. The redevelopment will bring 230+ multi-family units along with new office, industrial, retail, and medical space.
The Property is near numerous local schools, such as Dover High School (1,350+ students), Dover Middle School (940+ students), Woodman Park Elementary (400+ students), Frances G. Hopkins Elementary (400+ students), and Garrison Elementary (350+ students), amongst others.
A new childcare center is currently being built directly across the street from The Property and will have capacity for over 110 students. This will provide for additional daily traffic during afternoon pick-up.
Strong Daytime Workforce | 22,000+ Employees | Near Major Hospital & Corporate Headquarters
The Property benefits from a strong daytime population, with nearly 5,000 employees within 1 mile and over 22,000 employees within 3 miles.
Less than a mile south along Central Ave is Wentworth-Douglass Hospital, a 178-bed facility with over 3,650 employees. The hospital is also surrounded by numerous medical facilities and doctors’ offices.
Within 2 miles of The Property are the corporate headquarters of Lighthouse Credit Union, Formax, and Q, LLC, as well as industrial and manufacturing facilities for Brueckner Group USA, Advanced Automation, Cramer Fabrics Inc., Vygon USA, and Index Packaging, amongst others.
The Property is also approximately 8 miles (15 minutes) from the University of New Hampshire, which employs over 4,000 people.
