Smokey Bones

7848 Mall Road, Florence, KY 41042

$1,909,492

Cap Rate 6.50%

Views: 198 DOM: 434 Updated: 10.31.24 Posted: 01.27.24 Status: Active

Summary

Price $1,909,492	Built/Renov 2005	Tenant Smokey Bones
Cap Rate 6.50%	Lease Type Abs NNN	Guarantor Corp Traded
Size/SF 7,200	Lease Start 12-13-2005	#Units 61
Price/SF $265.21	Expiration 12-31-2025	Tenant Type Casual Dining
NOI $124,117	R. Term 0.9	Ownership Fee Simple
Rent/SF $17.24	Increases 10.0%/1/yrs	Pop 5Mi 143,444
Lot/AC 0.00	Options 2/5yrs/10%	AHHI 5Mi $109,285

Lease Highlights

Smokey Bones has been operating in this location since 2005
The tenant has 1+ years remaining on the current lease term with 2 (5-year) options to extend Lease features 10% rental increases at the start of each option period
Absolute NNN lease | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

The subject property is conveniently located on Mall Rd., which sees 16,043+ vehicles passing by daily. Smokey Bones has excellent visibility and accessibility from the I-71/I-75 interchange. It is positioned along a major retail corridor and sits adjacent to Florence Mall (950,000+ SF), which is anchored by Macy's and JCPenney. Other retailers in the immediate area include Burlington, Ulta,...

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Key Features

In location for years
Dense retail corridor
Near major nationals
Shopping Ctr out-parcel
Top 100 MSA
Strong demographics
Long operation history
Absolute NNN
Corporate Guarantee
Publicly traded company

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Links

Smokey Bones Wikipedia Smokey Bones Wikipedia Florence, Kentucky Zip Code 41042 Broker Site Page

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Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Smokey Bones
Guarantor:Corp Traded
Company:FAT Brands
# Units:61
Stock: NASDAQ: FAT

About Tenant

Smokey Bones Bar & Fire Grill, known as Smokey Bones, is a full-service restaurant chain delivering great barbecue, award-winning ribs, perfectly seared steaks, and memorable moments. Smokey Bones...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	8,395	69,115	148,137
2023 Total Population :	7,928	66,081	144,040
2023 Employed Civilian Pop :	3,877	33,527	72,924
2023 Total Businesses :	769	2,968	4,924
2023 Average Household Income :	$ 84,847	$ 95,233	$ 104,334
2023 Total Consumer Spending :	$ 230 M	$ 2165 M	$ 4858 M
2023 Median Age :	40	38	38
2023 Total Households :	3,128	26,347	54,196
2023 Pop Age 25+: Bachelor's Degree :	1,037	8,760	22,938
2023 Average Home Value :	$ 214,906	$ 206,924	$ 237,726

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
3151	Plz Blvd	2008	16,946	0.05 mi
Exchange Dr	Cayton Rd	2014	8,307	0.16 mi
		2012	10,766	0.19 mi
	Mall Circle Rd	2022	5,517	0.28 mi
Mall Road	Mall Cir Rd	2021	16,120	0.31 mi
I-75 RAMP from KY 18	Hwy 42	2021	7,154	0.32 mi
Cayton Rd	Exchange Dr	2014	8,307	0.33 mi
I 71;I 75	Burlington Pike	2021	123,552	0.34 mi
I-75 RAMP from MALL RD	Hwy 42	2021	6,478	0.35 mi
	Hwy 42	2018	6,213	0.36 mi

Listing Broker

Daniel Kukes

Landmark

Contact

17 Listings
4492 Views
3 Sold

Max Lippitt

Landmark

Contact

18 Listings
4718 Views
3 Sold

Daniel Kukes

Daniel Kukes is a Partner of Landmark Commercial Real Estate Services, LLC and a Co-Founder and Partner of the Landmark Investment Sales Team. Daniel specializes in the sale of retail shopping centers and single tenant net lease investment properties of all property types across the country. He currently represents some of the nation’s largest institutional funds, private equity funds, and high net worth investors in listing investment properties nationwide. Since 2010, Daniel has closed dea

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Max Lippitt

Maxwell Lippitt graduated from Michigan State University in 2016 with a Bachelor of Science degree in Economics. During College, Max was an intern in Landmark’s Investment Sales department. Upon graduating, Max became an associate broker at CBRE specializing in the disposition of single tenant medical, retail, and office properties. While at CBRE, Max researched, sourced, and tracked thousands of investment properties while building strong relationships with a wide variety of property owners al

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