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Updated: 03.26.24 Posted: 09.21.23 Status: Sold

Summary

Price $685,715
Built/Renov 2010
Tenant Huddle House
Cap Rate 7.00%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 25,178
Lease Start 01-01-2010
#Units 9
Price/SF $27.23
Expiration 01-01-2030
Tenant Type Fast Casual/Rest.
NOI $48,000
R. Term 4.7
Ownership Fee Simple
Rent/SF $1.91
Increases 0.0%/0/yrs
Pop 5Mi 5,224
Lot/AC 0.58
Options 3/5yrs
AHHI 5Mi $51,828

Lease Highlights

  • Huddle House has been operating at this location for 13+ years
  • Tenant has 6+ years remaining on their primary lease with 3 (5-year) options to extend
  • In the event that Huddle House does over $60,000 per month in “gross sales”, the lessee agrees to pay to lessor an additional $1,200 per month as percentage rental
  • Absolute NNN | Zero landlord responsibilities
  • Franchisee guaranteed lease (9-units)

Location Description

This 2,200 square foot Huddle House is prominently positioned along Wise Street/State Highway 63, which sees 4,500 vehicles passing by daily. It is also within close proximity to Bull Run Road/U.S. Highway 58 (7,900 VPD). Huddle House is part of a larger development that features Walgreens, Taco Bell, Dollar General, ABC, Hardee’s, Advance Auto Parts, and more, creating a strong consumer drive...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Huddle House
  • Guarantor:Franchisee
  • Company:Franchisee
  • # Units:9
  • Stock:Private

About Tenant

Huddle House, Inc. is an American casual dining restaurant chain. Their eaterie’s menus feature their signature Big House Breakfast platters, “Pancakes Perfected” sweet cakes, in addition to...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 1,048 2,919 4,986
2023 Total Population : 1,103 3,043 5,188
2023 Employed Civilian Pop : 381 1,132 1,952
2023 Total Businesses : 73 119 135
2023 Average Household Income : $ 53,891 $ 55,794 $ 52,891
2023 Total Consumer Spending : $ 23 M $ 68 M $ 109 M
2023 Median Age : 48 47 47
2023 Total Households : 482 1,350 2,267
2023 Pop Age 25+: Bachelor's Degree : 119 262 468
2023 Average Home Value : $ 144,411 $ 135,755 $ 152,745
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
US Hwy 58 Alt Wise St 2015 7,900 0.13 mi
Wise St 2021 6,800 0.15 mi
Bull Run Rd 2021 6,800 0.15 mi
3rd Avenue Wise St 2021 330 0.19 mi
Castlewood Drive 4th Ave 2018 8,500 0.21 mi
Bull Run Rd Hardy Hollow Rd 2016 7,900 0.21 mi
Castlewood Drive 4th Ave 2021 10,000 0.22 mi
SR T1224 Bull Run Rd 2021 1,900 0.22 mi
Castlewood Drive 4th Ave 2021 10,000 0.22 mi
Castlewood Drive 4th Ave 2018 8,500 0.22 mi

Listing Broker

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