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Views: 55 DOM: 79 Updated: 07.09.24 Posted: 04.24.24 Status: Active

Summary

Price $1,466,000
Built/Renov 2007/2026
Tenant Taco John's
Cap Rate 6.75%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 2,466
Lease Start 07-01-2024
#Units 24
Price/SF $594.48
Expiration 06-30-2044
Tenant Type Fast Food/QSR
NOI $99,000
R. Term 19.11
Ownership Fee Simple
Rent/SF $40.15
Increases 1.5%/1/yrs
Pop 5Mi 11,637
Lot/AC 0.32
Options 4/5yrs/1.5%
AHHI 5Mi $66,654

Lease Highlights

  • Taco John’s will be executing a brand-new 20-year lease with 4 (5-year) options to extend at the close of escrow | Store is slated for a remodel in 2026
  • Lease features 1.5% annual rental escalations throughout the initial term and option periods
  • Absolute NNN | Zero landlord responsibilities
  • Lease guaranteed by Paxton Keiser Enterprises (24 units backed)

Location Description

Taco John's is strategically located at the signaled, hard corner intersection of 3rd Street W and Knight Avenue N, with access to a combined daily traffic count of 8,600 vehicles. The property is situated just two blocks south, serving a student body of 567 and 84 employees. Additionally, it boasts proximity to one of the city's major employers, Digi-Key, less than a mile away. Furthermore,...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Taco John's
  • Guarantor:Franchisee
  • Company:Paxton Keiser Enterprises
  • # Units:24
  • Stock:Private

About Tenant

Taco John's International, Inc. (doing business as Taco John’s) is an American fast food restaurant chain located primarily in the Midwestern and Mountain Western United States. The chain...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 6,196 9,864 10,699
2023 Total Population : 6,261 9,930 10,758
2023 Employed Civilian Pop : 3,261 5,135 5,584
2023 Total Businesses : 329 529 544
2023 Average Household Income : $ 77,465 $ 80,869 $ 82,812
2023 Total Consumer Spending : $ 204 M $ 321 M $ 352 M
2023 Median Age : 39 39 39
2023 Total Households : 2,998 4,518 4,839
2023 Pop Age 25+: Bachelor's Degree : 706 1,078 1,168
2023 Average Home Value : $ 175,640 $ 183,579 $ 189,220
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Knight Ave N 3rd St W 2019 850 0.04 mi
2nd St W Knight Ave N 2015 560 0.06 mi
3rd St W Duluth Ave N 2019 8,400 0.06 mi
2nd St W Main Ave N 2015 1,100 0.06 mi
Main Ave Labree Ave 2019 7,300 0.08 mi
3rd St E Main Ave N 2017 8,100 0.08 mi
Knight Ave N 2nd St W 2015 830 0.09 mi
Main Ave N 4th St E 2017 7,200 0.10 mi
Duluth Ave N 3rd St W 2015 780 0.10 mi
4th St W Knight Ave N 2019 590 0.10 mi

Listing Broker

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