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Views: 91 DOM: 397 Updated: 05.28.24 Posted: 05.12.23 Status: Active

Summary

Price $1,810,000
Built/Renov 2023
Tenant Rally's
Cap Rate 5.75%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 925
Lease Start 03-01-2023
#Units 12
Price/SF $1,956.76
Expiration 02-28-2033
Tenant Type Fast Food/QSR
NOI $104,000
R. Term 8.8
Ownership Fee Simple
Rent/SF $112.43
Increases 10.0%/10/yrs
Pop 5Mi 243,000
Lot/AC 0.19
Options 3/5yrs/10%
AHHI 5Mi $66,860

Lease Highlights

  • Brand-new BTS 2023 construction for Rally’s
  • Tenant signed a new 10 year lease with 3 (5-year) options to extend
  • Lease features 10% rent increases every 5 years and at the start of option periods
  • Absolute NNN | Zero landlord responsibilities
  • Personal guarantee by WNK Foods, Inc., subsidiary of Karas Foods, Inc. (12+ units backed)

Location Description

The property is located on East 40th Street (22,400 VPD) across from the area’s most dominant grocery stores- Stater Bros. Market and Cardena’s. The site is in close proximity to the signalized intersection of Sierra Way which offers an additional 11,500 vehicles per day and about a half mile west of Highway 18 (24,600 VPD). Additional neighboring retailers include Walgreens, McDonalds, Jack...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Rally's
  • Guarantor:Franchisee
  • Company:Karas Foods, Inc.
  • # Units:12
  • 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 operates...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 16,300 112,289 247,700
2023 Total Population : 16,413 112,621 246,750
2023 Employed Civilian Pop : 7,492 49,556 103,487
2023 Total Businesses : 282 1,800 4,576
2023 Average Household Income : $ 85,355 $ 77,782 $ 77,177
2023 Total Consumer Spending : $ 382 M $ 2250 M $ 4719 M
2023 Median Age : 33 31 30
2023 Total Households : 5,163 33,156 69,963
2023 Pop Age 25+: Bachelor's Degree : 777 6,225 12,405
2023 Average Home Value : $ 477,691 $ 427,444 $ 410,046
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
E 40th St Sepulveda Ave 2004 22,290 0.04 mi
N Sierra Way W 42nd St 2004 11,789 0.10 mi
40th Street Sepulveda Ave 2019 13,022 0.10 mi
N Genevieve St W Ralston Ave 2003 755 0.18 mi
N Genevieve St W 39th St 2003 527 0.26 mi
18 E 41st St 2018 23,500 0.28 mi
CA 18 2021 19,450 0.28 mi
N Waterman Ave E 40th St 2010 23,000 0.29 mi
N Electric Ave W 40 St 2009 8,648 0.32 mi
Lorraine Dr W 40th St 2003 305 0.37 mi

Listing Broker

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