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 |
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 |
|
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The information presented herein is provided as is, without warranty of any kind.
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