Hardee's Absolute NNN Lease

Retail-Commercial for Sale
Catylist Listing ID: 30566755
Property Subtypes: Restaurant
Building Size (RSF): 3,387 SF
Gross Land Area: 1.30 Acres
Sale Price: $2,275,377
Unit Price: $671.80 PSF
Is Quick-Service Restaurant? Yes
Property Use Type: Net Leased Investment (NNN), Investment, Business
Sale Terms: Cash to Seller
Cap Rate: 5.7%
Average Occupancy Rate: 100
Last Updated: 9/20/2020

Overview / Comments

7D Commercial Real Estate is pleased to offer for sale the Absolute Net Leased StarCorp, LLC d/b/a Hardee's asset consisting of 3,387+/- SF on a 1.3 acre lot anchored by Kohl's and Meijer.​ The 20 Year Absolute Triple Net (NNN) Lease commenced on January 28th, 2020 in the remodeled building formerly operated by a national quick service restaurant that relocated within the market.​ The location has a history of strong sales and fantastic drivers for a successful Hardee's location.​ StarCorp is the fastest growing Hardee's/Carl's Jr.​ franchisee in the country operating over 140 units in AZ, IL, KY, ND, SD, MN, MO, IN and OH.​

Due to Covid-19, the Tenant was granted an abatement of Rent for the months of April, May and June 2020 in exchange for amortizing the abated Rent over the Term and extending the expiration date of the Lease to June 30, 2040.​ The Tenant has commenced payment of Rent as of July 1, 2020 and is operating from the Premises.​ The Tenant continued operating the drive thru facility and remained opened through the State mandated stay at home order.​

Additional Details

Nearest MSA: Louisville/Jefferson County
County: Clark
Taxing Authority: Clark County Indiana
Tax ID/APN: 10-19-01-201-025.000-009
Zoning: COMMERCIAL
Retail Clientele: General, Family, Business
Property Located Between: E. 10th Street and Middle Rd
Property Visibility: Excellent
Largest Nearby Street: E. 10th Street (IN SR 62)
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Excellent
Year Built: 2009
Year Renovated: 2019
Roof Type: Flat
Parking Type: Surface

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 10,777 52,774 153,196
Median Age: 33.89 38.22 39.16
Households: 4,409 21,672 65,258

Contact

Photograph of Listing Agent

Ryan B Pennington

Seven Development, LLC KCREA Member
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