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Views: 17 DOM: 6 Updated: 10.12.24 Posted: 10.12.24 Status: Active

Summary

Price $3,800,000
Built/Renov 2023
Tenant CAVA
Cap Rate 5.19%
Lease Type Abs NNN
Guarantor Corp Traded
Size/SF 2,900
Lease Start 01-03-2024
#Units 300
Price/SF $1,310.34
Expiration 01-31-2039
Tenant Type Fast Casual/Rest.
NOI $197,200
R. Term 14.3
Ownership Fee Simple
Rent/SF $68.00
Increases 10.0%/5/yrs
Pop 5Mi 221,917
Lot/AC 0.90
Options 4/5yrs/10%
AHHI 5Mi $90,265

Lease Highlights

  • New 2023 construction
  • CAVA has 14 years remaining on the current lease term with 4 (5-year) options to extend
  • The lease features 10% rental increases every 5 years throughout the primary term and option periods
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Corporate guaranteed lease

Location Description

CAVA is strategically located at the signalized, hard corner of Highland Road and Lee Drive, offering excellent visibility and access to 21,709 vehicles passing by daily. The property is adjacent to Highland Village Shopping Center, anchored by Walmart Neighborhood Market, and is surrounded by notable national retailers such as The UPS Store, CVS Pharmacy, Walgreens, Raising Cane’s, and Circle...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: CAVA
  • Guarantor:Corp Traded
  • Company:CAVA Group
  • # Units:300
  • Stock: NYSE: CAVA

About Tenant

CAVA is a Mediterranean culinary brand with a flavorful and healthy fast-casual restaurant experience featuring customizable & crave-able salads, bowls, and pitas. CAVA also produces a line of...


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Listing Broker

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