Hardee's

1431 Avenue H, Fort Madison, IA 52627

$1,058,919

Cap Rate 7.00%

Views: 101 Updated: 11.22.23 Posted: 07.27.23 Status: Inactive

Summary

Price $1,058,919	Built/Renov 1978	Tenant Hardee's
Cap Rate 7.00%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 3,938	Lease Start 12-21-2012	#Units 270
Price/SF $268.90	Expiration 12-31-2032	Tenant Type Fast Food/QSR
NOI $74,124	R. Term 8.3	Ownership Fee Simple
Rent/SF $18.82	Increases 1.8%/1/yrs	Pop 5Mi 12,409
Lot/AC 0.53	Options 4/5yrs/1.75%	AHHI 5Mi $68,150

Lease Highlights

Hardee’s has been operating in this location for 45 years
The tenant under the lease TriStar Ventures, LLC has 9+ years remaining on their primary term with 4 (5-year) options to extend
Lease features annual rental increases of 1.75% or 1.25 times the CPI increase
Absolute NNN lease I Zero landlord responsibilities
Franchise guaranteed by LBE Holdings, LLC; River Valley Restaurants, LLC and North Star Foods, LLC, all which are wholly owned subsidiaries of Capstone Restaurant Group (270+ units)

Location Description

Hardee’s is located on a hard corner at the signalized intersection of Avenue H and 15th Street with a combined traffic count of 13,160 vehicles passing per day. The subject property is positioned in the heart of downtown Fort Madison. It is situated just 1.2 miles from IL-9 (5,100 VPD), which provides direct access from Iowa to Illinois via the Mississippi River. The site is directly adjacent...

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Key Features

Signalized intersection
Hard corner intersection
In location for years
Near major nationals
Strategically located
Highway location
Absolute NNN
Annual rent increases
Subsidiary guarantee
Top franchise operator

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Links

Hardee's Wikipedia Hardee's Wikipedia Fort Madison, Iowa Zip Code 52627 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: TriStar Ventures, LLC
Guarantor:Franchisee
Company:LBE Holdings, LLC
# Units:270
Stock:Private

About Tenant

Hardee's Restaurants LLC is an American fast-food restaurant chain famous for their made from scratch hand-breaded chicken tenders and biscuits. Their menu includes hand-breaded chicken...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	5,186	11,086	12,193
2023 Total Population :	5,373	11,301	12,417
2023 Employed Civilian Pop :	2,465	4,835	5,379
2023 Total Businesses :	254	415	458
2023 Average Household Income :	$ 74,120	$ 72,021	$ 74,063
2023 Total Consumer Spending :	$ 148 M	$ 299 M	$ 339 M
2023 Median Age :	41	43	44
2023 Total Households :	2,257	4,690	5,177
2023 Pop Age 25+: Bachelor's Degree :	564	1,165	1,291
2023 Average Home Value :	$ 139,321	$ 138,423	$ 145,480

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
15th St	Ave H	2006	1,520	0.02 mi
Ave H	15th St	2006	14,200	0.02 mi
Ave H	15th St	2006	14,800	0.06 mi
15th St	Ave I	2006	400	0.06 mi
15th St	Ave G	2006	2,550	0.07 mi
14th St	Ave J	2006	610	0.10 mi
Alta Dr	15th St	2006	4,460	0.19 mi
14th St	Ave M	2006	840	0.23 mi
Ave H	17th St	2006	14,300	0.26 mi
15th St	Ave D	2006	3,930	0.28 mi

Listing Broker

Chris Bosworth

CBRE: NLPG Atlanta

Contact

128 Listings
12619 Views
62 Sold

Brian Pfohl

CBRE: NLPG Atlanta

Contact

128 Listings
12788 Views
60 Sold

Chris Bosworth

Chris Bosworth is a Vice Chairman and Managing Director of the CBRE Net Lease Property Group and Corporate Capital Markets practice. Mr. Bosworth’s focus is to advise institutions, private equity firms, REITs, developers and corporate users regarding all facets of net-leased properties. In his career, Mr. Bosworth and his partners, Will Pike and Brian Pfohl, have been responsible for the disposition of 3,900 transactions valued in excess of $29 billion. Mr. Bosworth and Mr. Pike co-head the

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Brian Pfohl

Brian Pfohl is an Executive Vice President with CBRE’s Net Lease Property and Corporate Capital Markets practice groups. Mr. Pfohl’s singular focus is to advise corporate users, institutions, private equity firms, REITs, developers, and private individuals regarding all facets of net-leased properties. Mr. Pfohl’s expertise stems from the myriad of sale-leaseback transactions, net lease investment sales, programmatic portfolio dispositions, and advisement assignments he has completed throughout

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Thomas Carr

CBRE: NLPG Atlanta

Contact

130 Listings
12821 Views
63 Sold

Thomas Carr

Thomas Carr is an Senior Investment Sales Analyst with CBRE’s Net Lease Property Group. As a member of the team led by Chris Bosworth and Will Pike, Mr. Carr plays an integral role in all aspects of the group’s property valuation, underwriting, and marketing efforts. He is also actively involved in marketing the team’s disposition assignments, specializing in single-tenant assets, national net-lease portfolios, and corporate sale-leasebacks, as well as advising 1031 exchange buyers. Mr. Carr

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