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Views: 173 DOM: 63 Updated: 10.08.24 Posted: 08.08.24 Status: Active

Summary

Price $1,750,000
Built/Renov 2020
Tenant Hardee's
Cap Rate 6.29%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 4,270
Lease Start 11-01-2024
#Units 31
Price/SF $409.84
Expiration 10-31-2044
Tenant Type Fast Food/QSR
NOI $110,000
R. Term 20.0
Ownership Fee Simple
Rent/SF $25.76
Increases 6.5%/5/yrs
Pop 5Mi 25,013
Lot/AC 0.96
Options 4/5yrs/6.5%
AHHI 5Mi $75,301

Lease Highlights

  • Brand new 20-year sale-leaseback with 4 (5-year) options to extend
  • The lease features 6.5% rental increases throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Lease guaranteed by Midwest First Star, Inc. (31 units backed)

Location Description

Hardee's is strategically located at the hard corner intersection of E Market Street and S 12th Street, with access to a combined daily traffic count of 9,953 vehicles. The property benefits from limited retail and fast food competition in the immediate area and is surrounded by well-known national tenants including KFC, Taco Bell, Advance Auto Parts, FedEx, NAPA Auto Parts, YMCA, Family...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Hardee's Restaurants LLC is an American fast-food restaurant chain famous for its made-from-scratch hand-breaded chicken tenders and biscuits. Their menu includes hand-breaded chicken...


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Listing Broker

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