Hardee's

1121 East Market Street, Logansport, IN 46947

$1,750,000

Cap Rate 6.29%

Views: 192 DOM: 117 Updated: 11.11.24 Posted: 08.08.24 Status: Active

Summary

Price $1,750,000	Built/Renov 2020	Tenant Hardee's
Cap Rate 6.29%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 4,270	Lease Start 12-01-2024	#Units 31
Price/SF $409.84	Expiration 12-31-2044	Tenant Type Fast Food/QSR
NOI $110,000	R. Term 20.1	Ownership Fee Simple
Rent/SF $25.76	Increases 6.5%/5/yrs	Pop 5Mi 25,013
Lot/AC 0.96	Options 4/5yrs/6.5%	AHHI 5Mi $75,301

Lease Highlights

Brand new 20-year sale-leaseback with 4 (5-year) options to extend
The lease features 6.5% rental increases every 5 years throughout the initial term and option periods
Absolute NNN lease | Zero landlord responsibilities
Lease guaranteed by Midwest First Star, Inc. (31 units backed)

Location Description

Hardee's is strategically located at the hard corner intersection of E Market Street and S 12th Street, with access to a combined daily traffic count of 9,953 vehicles. The property benefits from limited retail and fast food competition in the immediate area and is surrounded by well-known national tenants including KFC, Taco Bell, Advance Auto Parts, FedEx, NAPA Auto Parts, YMCA, Family...

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Key Features

New construction
Hard corner intersection
Dense retail corridor
Near major nationals
Strategically located
Brand new lease
Long 20+ yr lease
Absolute NNN
Limited competition
25+ unit franchisee backed

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Links

Hardee's Wikipedia Hardee's Wikipedia Logansport, Indiana Zip Code 46947 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Hardee's
Guarantor:Franchisee
Company:Midwest First Star, Inc.
# Units:31
Stock:Private

About Tenant

Hardee's Restaurants LLC is an American fast-food restaurant chain famous for its 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
2029 Total Population :	10,274	21,615	24,461
2024 Total Population :	10,344	21,878	24,747
2024 Employed Civilian Pop :	4,580	9,755	11,166
2024 Total Businesses :	438	891	936
2024 Average Household Income :	$ 65,143	$ 71,230	$ 74,304
2024 Total Consumer Spending :	$ 220 M	$ 543 M	$ 644 M
2024 Median Age :	34	39	40
2024 Total Households :	3,770	8,529	9,717
2024 Pop Age 25+: Bachelor's Degree :	733	1,575	1,847
2024 Average Home Value :	$ 112,120	$ 140,194	$ 149,921

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
South 12th Street	E Market St	2021	1,037	0.02 mi
East Market Street	12th St	2018	10,333	0.03 mi
Erie Avenue	12th St	2021	2,780	0.26 mi
East Broadway Street	15th St	2021	8,693	0.29 mi
High Street	9th St	2021	3,657	0.34 mi
East Market Street	7th St	2021	9,209	0.36 mi
Local	13th St	2020	9,709	0.38 mi
South 6th Street	E Broadway St	2021	4,369	0.40 mi
South 6th Street	Erie Ave	2021	642	0.41 mi
South 6th Street	North St	2021	4,369	0.41 mi

Listing Broker

Jordan Mulloy

Sands Investment Group

Contact

28 Listings
1911 Views
4 Sold

Doug Roland

Sands Investment Group

Contact

16 Listings
1951 Views
2 Sold

Jordan Mulloy

Investment Advisor at Sands Investment Group (SIG), a Commercial Real Estate Investment Brokerage Company based in Santa Monica, California. With offices nationwide, SIG is focused on investment sales of single tenant net leased retail properties. Jordan represents clients from Private Capital to Institutional Investors with a specialization in retail investment property sales. Jordan's focus is in the restaurant sector and he serves as an outsourced real estate arm for growing franchisees arou

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Doug Roland

Sands Investment Group is a commercial real estate brokerage firm that specializes in the buying and selling of investment properties for private investors and institutions across the United States. Since its founding in 2010, SIG has closed over 4,100 plus transactions worth more than $8 Billion in 48 states. Advisors with the company currently have over $1.4 billion in active inventory. As a leader in the industry, SIG was first to offer true sub-product type specialization. The firm’s experi

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Max Freedman

Sands Investment Group

Contact

60 Listings
4548 Views
8 Sold

Will Schuhmacher

Sands Investment Group

Contact

29 Listings
2278 Views
4 Sold

Max Freedman

Max Freedman is a recognized industry leader focused on the Restaurant/C-Store real estate, heads the Austin office and the SIG Restaurant Group. Max is a founding partner and opened the first SIG office in Santa Monica, CA in 2009, with Chris Sands. He has excelled in building the company’s team culture and strategies you see today. Max has a strong team mentality and has had an integral part in recruiting several agents to Sands Investment Group. SIG’s restaurant group consists of nine agen

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Will Schuhmacher

Investment Advisor at Sands Investment Group (SIG), a Commercial Real Estate Investment Brokerage Company based in Santa Monica, California. With offices nationwide, SIG is focused on investment sales of single tenant net leased retail properties. Will represents clients from Private Capital to Institutional Investors with a specialization in retail investment property sales. Will's focus is in the restaurant sector and he serves as an outsourced real estate arm for growing franchisees around t

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