Jack's

1317 Sunset Drive, Grenada, MS 38901

$1,794,872

Cap Rate 5.85%

Views: 65 Updated: 07.18.24 Posted: 03.25.24 Status: Inactive

Summary

Price $1,794,872	Built/Renov 2024	Tenant Jack's
Cap Rate 5.85%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 3,572	Lease Start 05-01-2024	#Units 250
Price/SF $502.48	Expiration 04-30-2044	Tenant Type Fast Food/QSR
NOI $105,000	R. Term 19.9	Ownership Fee Simple
Rent/SF $29.40	Increases 10.0%/5/yrs	Pop 5Mi 13,880
Lot/AC 0.18	Options 4/5yrs/10%	AHHI 5Mi $65,539

Adam English

STREAM Capital Partners

Contact

Lease Highlights

Brand-new 2024 construction
Jack's will be executing a brand-new 20-year lease with 4 (5-year) options to extend
The lease features 10% rental escalations throughout the initial term and option periods
Absolute NNN | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

Jack's is strategically located on Sunset Drive, with access to 21,000 vehicles. Adjacent to the Grenda Medical Complex, the property benefits from its prime location. Nearby well-known national tenants include Walmart, Walgreens, Taco Bell, AutoZone, Dollar Tree, AT&T, and more. The 5-mile trade area is supported by a population of 13,880 residents with an average household income of $65,539....

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Key Features

New construction
Build to suit
Dense retail corridor
Near major nationals
Freeway close
Hospital close
Brand new lease
Long 20+ yr lease
Limited competition
Corporate Guarantee

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Links

Jack's Wikipedia Jack's Family Restaurants Wikipedia Grenada, Mississippi Zip Code 38901 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Jack's
Guarantor:Corporate
Company:AEA Investors
# Units:250
Stock:Private

About Tenant

Jack's Family Restaurants, LP (Jack's) is an American fast-food restaurant chain featuring sit-down dining, drive-thrus, and takeout service. The menu primarily features burgers, fried...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	3,245	11,142	14,074
2023 Total Population :	3,310	11,346	14,299
2023 Employed Civilian Pop :	1,181	4,506	5,753
2023 Total Businesses :	292	698	768
2023 Average Household Income :	$ 48,428	$ 55,783	$ 61,996
2023 Total Consumer Spending :	$ 62 M	$ 232 M	$ 329 M
2023 Median Age :	40	41	41
2023 Total Households :	1,462	4,728	6,036
2023 Pop Age 25+: Bachelor's Degree :	364	1,235	1,555
2023 Average Home Value :	$ 141,028	$ 143,303	$ 158,580

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Sunset Dr	Jefferson Trl	2006	23,000	0.08 mi
Sunset Drive	Sunset Dr	2021	21,000	0.21 mi
Springhill Road	Long William Dr	2018	2,800	0.33 mi
Springhill Road	Melton Dr	2021	2,700	0.33 mi
Sweethome Road	Mountain LnDr	2021	1,800	0.36 mi
Melton Drive	Wilbourne St	2021	40	0.37 mi
Gateway St	Kirk Ave	2006	6,100	0.47 mi
Wooded Drive	Old Wooded Dr	2021	4,300	0.48 mi
South Street	Cathey Dr	2021	5,700	0.55 mi
Sweethome Rd	Goins Rd	2006	1,900	0.57 mi

Listing Broker

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