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Updated: 03.22.24 Posted: 02.15.24 Status: Sold

Summary

Price $4,615,000 $4,615,000
Built/Renov 2023
Tenant Jollibee
Cap Rate 6.50% 6.50%
Lease Type Double NN
Guarantor Corp Traded
Size/SF 2,500
Lease Start 05-01-2023
#Units 1,570
Price/SF $1,846.00 $1,846.00
Expiration 04-30-2038
Tenant Type Fast Food/QSR
NOI $300,000
R. Term 12.10
Ownership Fee Simple
Rent/SF $120.00
Increases 10.0%/4/yrs
Pop 5Mi 421,610
Lot/AC 0.44
Options 6/5yrs/10%
AHHI 5Mi $93,272

Highlights

  • Brand-new 2023 construction
  • Jollibee has 14+ years remaining on the current lease term with 6 (5-year) options to extend
  • The lease features 10% rental increases throughout the initial term and each option period
  • Corporate guaranteed lease

Location Description

Jollibee is strategically located at the signalized, hard corner intersection of Rainbow Blvd. and W Cheyenne Ave Colliers, with access to a robust combined daily traffic count of 57,500 vehicles. Situated immediately east of the US-95 Freeway (227,500 VPD), the property is well-positioned within Cheyenne Commons. It offers excellent access with 8 points of ingress and egress at two separate...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Jollibee
  • Guarantor:Corp Traded
  • Company:Jollibee Food Corporation
  • # Units:1,570
  • Stock: OTCMKTS: JBFCF

About Tenant

Jollibee is the flagship brand of Jollibee Foods Corporation and is the largest and fastest-growing Asian restaurant company in the world. Jollibee is best known for Chickenjoy, their signature...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 18,453 183,884 434,523
2023 Total Population : 18,241 179,758 426,006
2023 Employed Civilian Pop : 9,227 85,467 198,218
2023 Total Businesses : 706 4,733 11,188
2023 Average Household Income : $ 72,318 $ 84,125 $ 90,768
2023 Total Consumer Spending : $ 442 M $ 5064 M $ 12539 M
2023 Median Age : 37 39 39
2023 Total Households : 7,020 69,306 159,526
2023 Pop Age 25+: Bachelor's Degree : 2,177 20,441 51,147
2023 Average Home Value : $ 388,502 $ 401,723 $ 429,089
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
N Rainbow Blvd W Cheyenne Ave 2012 20,988 0.01 mi
W Cheyenne Ave N Rainbow Blvd 2017 42,525 0.06 mi
N Rainbow Blvd W Cheyenne Ave 2016 23,300 0.06 mi
N Rainbow Blvd W Cheyenne Ave 2017 19,775 0.09 mi
N Rainbow Blvd W Light Breeze Dr 2016 4,275 0.10 mi
West Cheyenne Avenue N Rainbow Blvd 2022 38,500 0.12 mi
W Atwood Ave N Irv Marcus Dr 2014 697 0.19 mi
W Cheyenne Ave N Oran K Gragson Expy 2010 42,763 0.21 mi
N Oran K Gragson Expy W Cheyenne Ave 2004 121,000 0.26 mi
N Winterhaven Ave W Atwood Ave 2014 387 0.27 mi

Listing Broker

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