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Views: 60 DOM: 222 Updated: 06.04.24 Posted: 11.03.23 Status: Active

Summary

Price $1,905,000
Built/Renov 2023
Tenant Rally's
Cap Rate 5.25%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 1,088
Lease Start 04-01-2024
#Units 20
Price/SF $1,750.92
Expiration 07-01-2039
Tenant Type Fast Food/QSR
NOI $100,000
R. Term 15.0
Ownership Fee Simple
Rent/SF $91.91
Increases 10.0%/5/yrs
Pop 5Mi 433,837
Lot/AC 0.44
Options 0/0yrs
AHHI 5Mi $88,733

Lease Highlights

  • Brand-new 2023 construction
  • Rally’s recently signed a brand-new 15-year lease
  • Lease features 10% rental increases every 5 years throughout the initial term
  • Absolute NNN | Zero landlord responsibilities
  • Lease guaranteed by Wahid Karas (WNK Foods)

Location Description

Rally’s is located near the signalized, hard corner intersection of Cheyenne Ave. and Torrey Pines Drive, with access to 52,000 vehicles per day. The property has excellent visibility, significant street frontage, and multiple points of ingress/egress. Furthermore, the property will share the site with a new Human Bean Coffee. The property is ideally positioned just 3 blocks from Cheyenne...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Rally's
  • Guarantor:Franchisee
  • Company:Wahid Karas (WNK Foods)
  • # Units:20
  • Stock:Private

About Tenant

Rally’s Drive-In Restaurants is part of Checkers Drive-In Restaurants, Inc., and is one of the largest chains of double drive-thru restaurants in the United States. The company currently...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 22,386 182,714 442,644
2023 Total Population : 22,253 178,480 433,837
2023 Employed Civilian Pop : 10,550 84,661 200,557
2023 Total Businesses : 485 4,845 11,415
2023 Average Household Income : $ 71,101 $ 81,945 $ 88,733
2023 Total Consumer Spending : $ 526 M $ 4844 M $ 12374 M
2023 Median Age : 37 39 39
2023 Total Households : 8,510 67,991 160,905
2023 Pop Age 25+: Bachelor's Degree : 2,420 18,851 49,774
2023 Average Home Value : $ 422,839 $ 398,412 $ 421,825
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
W Cheyenne Ave N Sisk St 2013 35,963 0.03 mi
North Torrey Pines Drive W Cheyenne Ave 2018 47,475 0.04 mi
N Torrey Pines Dr W Cheyenne Ave 2013 5,175 0.05 mi
N Torrey Pines Dr W Cheyenne Ave 2013 5,175 0.10 mi
W Brooks Ave N Torrey Pines Dr 2009 929 0.27 mi
W Heather Mist Ln N Fern Hollow Ct 2009 484 0.31 mi
W Brooks Ave N Maverick St 2009 775 0.34 mi
N Whispering Willow Ln W Heather Mist Ln 2009 394 0.34 mi
N Whispering Willow Ln W Blossom Knoll Ave 2009 394 0.36 mi
W Cheyenne Ave N Rainbow Blvd 2017 42,525 0.37 mi

Listing Broker

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