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Views: 64 DOM: 53 Updated: 12.16.24 Posted: 10.29.24 Status: Active

Summary

Price $2,818,000
Built/Renov 2020
Tenant Black Rock Coffee Bar
Cap Rate 5.50%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 828
Lease Start 11-09-2024
#Units 140
Price/SF $3,403.38
Expiration 11-30-2039
Tenant Type Fast Food/QSR
NOI $155,000
R. Term 14.11
Ownership Fee Simple
Rent/SF $187.20
Increases 10.0%/5/yrs
Pop 5Mi 238,015
Lot/AC 0.48
Options 3/5yrs/10%
AHHI 5Mi $66,782

Lease Highlights

  • New 15-year lease with 3 (5-year) options to renew
  • 10% rent increases every 5 years in both the primary term and renewal options
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee with high growth-oriented business

Location Description

Black Rock Coffee Bar is strategically located at a signalized, hard corner intersection of East 22nd Street and South Wilmot Road, with access to a substantial combined daily traffic count of 72,000 vehicles. The property is surrounded by notable national tenants, including Walmart Neighborhood Market, Wendy’s, Pizza Hut, Taco Bell, Papa John’s and more. Additionally, it is situated within a...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Black Rock Coffee Bar
  • Guarantor:Corporate
  • Company:Black Rock Store Operations LLC
  • # Units:140
  • Stock:Private

About Tenant

Black Rock Store Operations LLC, dba Black Rock Coffee Bar is one of the largest privately owned coffee companies. Founded in 2008 in Portland Oregon, the company is known for its premium roasted...


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Listing Broker

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