Zaxby’s is a franchised/corporate chain of fast food restaurants offering chicken wings, chicken fingers, sandwiches, and salads. The company operates primarily in the Southern United States with more than 801 locations.

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S&P Rating: N/R
Moody Rating: N/R

Typical Lease Characteristics

Lease Term: 15 - 20 Years Years

Lease Type: Absolute NNN Lease

Lease Increases: 10% Every 5 years 

Lease Extensions: 2- (5) Year Options

Lease Guarantor: Corporate and Franchise

Tenant Overview

All Zaxby’s locations are full-service restaurants in freestanding buildings that provide in-store seating and drive-thru windows. The average restaurant is 3,300-3,800 square feet. Approximately one commercial acre is required, though this can vary depending on zoning or other requirements. Key real estate characteristics include suburban or rural locations with excellent visibility and access, as well as strong residential and daytime populations driven by office, retail and university environments.

From the beginning, Zaxby’s has been known for having the right combination of great food, a comfortable vibe, and fun people who care about each other. Turns out, those things also translate into customer loyalty. One of Zaxby’s main objectives over the years has been carefully preserving the personality of the company, and year after year, they’ve grown their customer base around this important nucleus. Blake Bailey, chief financial officer for Zaxby’s, also attributes the chain’s continued growth to an ongoing focus on speed of service, an LTO-centric marketing strategy and the recruiting of franchisees that have more people skills than restaurant skills


  • Over 800 locations throughout United States
  • Loyal customer base
  • Typically Long term leases with increases


  • Strength dependent on Franchisor
  • Competitive Industry Sector
  • Susceptible to economic trends and pressures

Market Snapshots:

On Market Ranges:

# of Properties in set: 9

Price: $1,984,310 - $2,333,200Average: $2,180,562

PPSF: $560 - $790Average: $672

Year Built: 2005 - 2018Average: 2011

CAP Rate Range: 5.76% - 7.95%Average: 6.86%

Size range: 2,201 sq ft - 3,950 sq ft Average: 3,300 sq ft

Last 12 Month Range:

# of Properties in set: 11

Price: $1,740,350 - $2,201,640Average: $2,096,802

PPSF: $589 - $694Average: $620

Year Built: 1994 - 2018Average: 2006

CAP Rate Range: 6.45% - 7.28%Average: 6.93%

Size range: 2,244 sq ft - 3,666 sq ft Average: 3,311 sq ft

Zaxby’s Company Profile

Headquarters Information

Athens, Georgia

Founded in 1990

Company type: Private

Industry: Food

S&P Rating: N/R
S&P Rating: N/R
No stock information is available for this tenant.
No news available for this tenant.

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