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Views: 175 DOM: 211 Updated: 10.30.24 Posted: 05.29.24 Status: Active

Summary

Price $1,872,720
Built/Renov 1983/2023
Tenant Beef-A-Roo
Cap Rate 8.25%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 3,698
Lease Start 06-24-2022
#Units 24
Price/SF $506.41
Expiration 05-31-2042
Tenant Type Fast Casual/Rest.
NOI $154,499
R. Term 17.5
Ownership Fee Simple
Rent/SF $41.78
Increases 2.0%/1/yrs
Pop 5Mi 18,373
Lot/AC 1.24
Options 4/5yrs/2%
AHHI 5Mi $67,773

Lease Highlights

  • Beef-A-Roo has 17+ years remaining on the current lease term with 4 (5-year) options to extend
  • The lease features 2% rental increases throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Lease guaranteed by Rocinante Equity, Inc. DBA Elysian Capital & Jeffrey Love, personally

Location Description

Beef-A-Roo is strategically located on IN-32, with access to 11,489 vehicles passing by daily. The property is conveniently situated near Highway 65, which sees 60,749 VPD. The immediate area is surrounded by well-known national tenants, including Arby's, Menards, Taco Bell, Denny's, White Castle, and more. The 5-mile trade area is supported by a population of 18,373 residents with an average...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Beef-A-Roo
  • Guarantor:Franchisee
  • Company:Rocinante Equity, Inc.
  • # Units:24
  • Stock:Private

About Tenant

Beef-A-Roo is a beloved restaurant chain that has been serving up delicious roast beef sandwiches, which have become a local favorite. Over the decades, the company has expanded its menu to...


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 2,182 18,503 21,474
2024 Total Population : 2,050 17,425 20,082
2024 Employed Civilian Pop : 1,103 9,811 11,180
2024 Total Businesses : 135 721 763
2024 Average Household Income : $ 75,430 $ 92,271 $ 97,984
2024 Total Consumer Spending : $ 55 M $ 602 M $ 724 M
2024 Median Age : 36 40 41
2024 Total Households : 841 7,432 8,427
2024 Pop Age 25+: Bachelor's Degree : 193 2,511 3,000
2024 Average Home Value : $ 231,671 $ 285,015 $ 302,057
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
SR 32 Mt Zion Rd 2021 13,028 0.17 mi
W South St Mt Zion Rd 2017 8,452 0.17 mi
State Rd 32 Enterprise Dr 2010 9,560 0.23 mi
I 65 140 RAMP C NW I- 65 2021 7,007 0.24 mi
I 65 140 RAMP B 100 SE OF I 65 NB I- 65 2021 6,948 0.29 mi
I 65;US 52 Hwy 52 2021 57,066 0.29 mi
I 65 140 RAMP D SW W South St 2021 7,007 0.30 mi
I 65 140 RAMP A SE Sam Ralston Rd 2021 6,948 0.41 mi
W South St W Main St 2021 14,567 0.51 mi
Sam Ralston Road Manor Dr 2021 6,087 0.54 mi

Listing Broker

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