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Views: 155 Updated: 11.26.24 Posted: 07.08.24 Status: Inactive

Summary

Price $2,560,700
Built/Renov 2023
Tenant Hwy 55 Burgers Shakes & Fries
Cap Rate 7.00%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 3,400
Lease Start 10-21-2021
#Units 135
Price/SF $753.15
Expiration 10-31-2041
Tenant Type Fast Casual/Rest.
NOI $179,249
R. Term 16.10
Ownership Fee Simple
Rent/SF $52.72
Increases 10.0%/2/yrs
Pop 5Mi 33,322
Lot/AC 1.53
Options 2/10yrs/10%
AHHI 5Mi $78,584

Lease Highlights

  • New 2023 construction
  • Hwy 55 Burgers Shakes & Fries has 17+ years remaining on the current lease term with 2 (10-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Hwy 55 Burgers Shakes & Fries is strategically located on Harrison Avenue, with access to 22,000 vehicles passing by daily. The property is in close proximity to a 17-acre development site planned for retail complexes. Additionally, the immediate area boasts well-known national tenants, including Walmart, Petco, Aaron's, Mattress Firm, Dollar Tree, and more. The 5-mile trade area is supported...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Hwy 55 Burgers Shakes & Fries is a retro-themed, American restaurant franchise specializing in classic comfort foods like fresh, never frozen burgers, hot dogs, and shakes. The chain offers...


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 4,984 25,312 34,215
2024 Total Population : 4,776 24,747 33,609
2024 Employed Civilian Pop : 1,930 11,267 15,427
2024 Total Businesses : 326 1,133 1,566
2024 Average Household Income : $ 74,099 $ 72,255 $ 71,831
2024 Total Consumer Spending : $ 137 M $ 712 M $ 950 M
2024 Median Age : 47 44 42
2024 Total Households : 2,105 11,124 14,891
2024 Pop Age 25+: Bachelor's Degree : 628 3,257 4,490
2024 Average Home Value : $ 303,981 $ 289,717 $ 309,333
*ESRI data is presented for informational purposes only

Listing Broker

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