loader
Join
Updated: 05.08.23 Posted: 05.08.23 Status: Sold    

Summary

Price $3,323,000
Built/Renov 2022
Tenant Denny's
Cap Rate 5.00%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 4,416
Lease Start 03-01-2023
#Units 5
Price/SF $752.49
Expiration 03-01-2038
Tenant Type Casual Dining
NOI $166,171
R. Term 12.7
Ownership Fee Simple
Rent/SF $37.63
Increases 10.0%/5/yrs
Pop 5Mi 92,886
Lot/AC 0.87
Options 3/5yrs/10%
AHHI 5Mi $108,605

Highlights

  • New construction 2022
  • New Denny's prototype with drive-thru component & outdoor patio
  • Denny’s recently signed a brand new 15-year lease with 3 (5-year) options to extend
  • Lease offers 10% rental escalations every 5 years and at the beginning of each option period
  • The lease is guaranteed by Kevin Killham and Dennis Ekstrom, each an individual, as well as Diamondback DTNM, LLC, C&K Tucson Enterprises, LLC, C&K Texas Enterprises, LLC, and C&K Arizona Enterprises, LLC.

Location Description

The subject property is prominently located within the Dry River District Development, a 65-acre mixed-use commercial development that will include medical, hotel, multifamily & retail anchored by Costco, EVO Entertainment, and Home Depot. The property has excellent access and freeway visibility along Kohler’s Crossing and IH-35 (159,300 Combined AADT). The site benefits from robust...

...

Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Denny's, or Denny's Corp (NASDAQ: DENN), is an American table service diner-style restaurant chain. Founded by Harold Butler and Richard Jezak, who opened Danny's Donuts in Lakewood,...


...

Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 6,086 59,934 125,988
2023 Total Population : 5,707 51,884 108,598
2023 Employed Civilian Pop : 2,882 26,765 55,201
2023 Total Businesses : 65 946 1,794
2023 Average Household Income : $ 91,545 $ 103,627 $ 109,260
2023 Total Consumer Spending : $ 158 M $ 1594 M $ 3453 M
2023 Median Age : 31 32 32
2023 Total Households : 2,001 17,749 36,503
2023 Pop Age 25+: Bachelor's Degree : 959 7,085 16,695
2023 Average Home Value : $ 391,298 $ 354,030 $ 352,257
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Amberwood S 2021 26,042 0.25 mi
Interstate Highway 35 Kohlers Xing 2019 156,668 0.28 mi
I- 35 Frontage 2021 113,182 0.28 mi
Kyle Xing Co Rd 210 2010 6,320 0.29 mi
Kohlers Xing 2021 3,941 0.30 mi
Kohlers Crossing I35 Frontage 2020 2,632 0.35 mi
Windy Hill Road Dry Hole Rd 2015 12,710 0.36 mi
Windy Hill Road Dry Hole Rd 2015 12,808 0.41 mi
Windy Hill Rd Dry Hole Rd 2005 6,650 0.42 mi
I- 35 Dry Hole Rd 2005 12,380 0.60 mi

Listing Broker

Loading...
Disclaimer & Confidentiality
All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT

GET IN TOUCH