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Views: 39 DOM: 92 Updated: 05.20.24 Posted: 02.25.24 Status: Active

Summary

Price $1,510,000
Built/Renov 2017
Tenant Taco Bell (GL)
Cap Rate 5.10%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 2,053
Lease Start 11-01-2017
#Units 280
Price/SF $735.51
Expiration 10-31-2037
Tenant Type Fast Food/QSR
NOI $77,000
R. Term 13.5
Ownership Ground Lease
Rent/SF $37.51
Increases 10.0%/3/yrs
Pop 5Mi 18,383
Lot/AC 0.47
Options 4/5yrs/10%
AHHI 5Mi $67,079

Lease Highlights

  • Taco Bell has 13+ years remaining on the current lease term with 4 (5-year) options to extend
  • The ground lease features 10% rental escalations every 5 years throughout the initial term and each option period
  • Absolute NNN | Zero landlord responsibilities
  • Lease guaranteed by Bell Carolina, LLC - 280+ units backed

Location Description

Taco Bell is strategically located on E Main Street, a major commuter road, with access to 13,700 vehicles passing by daily. The property benefits from being located in a commercial hub, surrounded by over 822,000 square feet of retail space within a 1-mile radius. National tenants in the area include Starbucks, Sonic, Pizza Hut, MoD Wash, and more. Additionally, the property is situated in...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Taco Bell is an American-based chain of fast food restaurants originating in Irvine, California in 1962, by founder Glen Bell. Taco Bell is the leading Mexican-inspired, quick-service restaurant...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 1,047 12,309 18,544
2023 Total Population : 1,029 12,273 18,383
2023 Employed Civilian Pop : 483 4,477 6,883
2023 Total Businesses : 122 651 810
2023 Average Household Income : $ 52,850 $ 65,600 $ 67,079
2023 Total Consumer Spending : $ 21 M $ 287 M $ 438 M
2023 Median Age : 37 39 40
2023 Total Households : 468 4,954 7,377
2023 Pop Age 25+: Bachelor's Degree : 63 775 1,205
2023 Average Home Value : $ 194,548 $ 179,074 $ 184,013
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
East Jerry Road Brown Rd 2022 900 0.19 mi
East Main Street Hwy 76 2021 13,200 0.40 mi
East Main Street Brownlee Ave 2022 13,700 0.40 mi
Exchange Drive Brownlee Ave 2022 10,400 0.47 mi
Fairgrounds Road Osborne Rd 2022 1,150 0.49 mi
Old Airport Road E Glen Rd 2021 1,950 0.51 mi
Fleming Street Extension Junkyard Dr 2022 1,550 0.86 mi
Old Airport Road Christian Dr 2022 2,100 0.93 mi
Garlington Street McGowan 2022 1,450 0.95 mi
East Farley Avenue Green St 2022 2,900 0.97 mi

Listing Broker

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