Little Caesars

2416 23rd Street, Columbus, NE 68601

$2,366,000

Cap Rate 7.00%

Views: 70 Updated: 11.21.23 Posted: 07.27.23 Status: Inactive

Summary

Price $2,366,000	Built/Renov 2009	Tenant Little Caesars
Cap Rate 7.00%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 6,860	Lease Start 07-01-2023	#Units 13
Price/SF $344.90	Expiration 06-30-2048	Tenant Type Fast Casual/Rest.
NOI $165,612	R. Term 23.7	Ownership Fee Simple
Rent/SF $24.14	Increases 1.5%/5/yrs	Pop 5Mi 28,420
Lot/AC 0.83	Options 4/5yrs/1.5%	AHHI 5Mi $85,652

Lease Highlights

Little Caesars recently signed a brand new 25-year master lease
The 4-unit drive-thru equipped retail building is currently occupied by Little Caesar’s (tenant under master lease), as well as Berkshire Hathaway, Verizon, and N-Stant Convenience, who currently occupy the building as subtenants
The master lease features 1.5% annual increases beginning in the sixth year of the initial term
Absolute NNN | Zero landlord responsibilities
Franchisee guaranteed lease (13 units)

Location Description

Little Caesar is strategically located along 23rd St (US Highway 30), with access to 27,200 vehicles passing by daily. The site benefits from excellent visibility via significant street frontage, multiple large monument signs and several points of ingress/egress. The property is ideally situated in proximity to numerous national/credit tenants including CVS Pharmacy, Walgreens, Walmart...

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Key Features

Near major nationals
Strategically located
Highway location
Strong tenant synergy
Affluent suburb location
Brand new lease
Long 20+ yr lease
Store sales reported
Annual rent increases
Personal guarantee

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Links

Little Caesars Wikipedia Little Caesars Wikipedia Columbus, Nebraska Zip Code 68601 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Little Caesars
Guarantor:Franchisee
Company:Franchisee
# Units:13
Stock:Private

About Tenant

Little Caesars Enterprises, Inc (dba Little Caesars) is the third largest American pizza chain. It operates and franchises pizza restaurants in the United States and internationally in Asia, the...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	10,893	26,043	29,126
2023 Total Population :	10,771	25,581	28,645
2023 Employed Civilian Pop :	5,603	13,893	15,441
2023 Total Businesses :	697	1,235	1,338
2023 Average Household Income :	$ 77,684	$ 82,158	$ 84,084
2023 Total Consumer Spending :	$ 294 M	$ 718 M	$ 817 M
2023 Median Age :	39	39	39
2023 Total Households :	4,360	10,066	11,185
2023 Pop Age 25+: Bachelor's Degree :	1,094	2,751	3,149
2023 Average Home Value :	$ 207,365	$ 215,759	$ 218,737

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
23rd St	23rd Ave	2001	24,300	0.06 mi
23rd Street	23rd Ave	2018	23,035	0.06 mi
23rd Avenue	23rd St	2018	5,175	0.08 mi
23rd Ave	23rd St	2001	3,305	0.08 mi
23rd Street	23rd Ave	2018	24,080	0.10 mi
26th Ave	Kummer Dr	2001	6,355	0.11 mi
26th Avenue	23rd St	2018	5,585	0.11 mi
23rd St	22nd Ave	2001	19,540	0.12 mi
26th Ave	22nd St	2018	4,980	0.13 mi
27th St	26th Ave	2018	3,345	0.27 mi

Listing Broker

Patrick Luther

SRS National Net Lease Group

Contact

420 Listings
46326 Views
165 Sold

Matthew Mousavi

SRS National Net Lease Group

Contact

369 Listings
42218 Views
137 Sold

Patrick Luther

Patrick joined SRS in 2016 with more than 10 years of transactional brokerage experience in the commercial real estate industry and over $1 billion in closed transactions, representing over 300 individual properties. Along with Matthew Mousavi, Patrick co-founded and leads the National Net Lease Group at SRS, the exclusive net lease capital markets platform within SRS, comprised of more than 75 professionals handling all net lease transactions for the firm nationally. He focuses on all types of

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Matthew Mousavi

Matthew is the managing principal and co-founder of the SRS National Net Lease Group, based in Newport Beach, California. SRS’ is the exclusive net lease investment advisory platform across more than 25 offices nationally. SRS is the largest retail estate firm in North America exclusively focused on retail services, of which Matthew is a member of the board. The firm has a track record spanning over 30 years and billions in transaction volume, and represents over 400 retailers throughout the co

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