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Views: 92 Updated: 03.26.24 Posted: 04.05.23 Status: Inactive

Summary

Price $4,553,000
Built/Renov 2022
Tenant The Habit Burger Grill
Cap Rate 4.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 2,650
Lease Start 11-13-2021
#Units 349
Price/SF $1,718.11
Expiration 11-13-2041
Tenant Type Fast Casual/Rest.
NOI $182,106
R. Term 16.11
Ownership Fee Simple
Rent/SF $68.72
Increases 10.0%/3/yrs
Pop 5Mi 266,084
Lot/AC 0.57
Options 2/5yrs/10%
AHHI 5Mi $125,799

Lease Highlights

  • Brand-new construction featuring the latest prototype for tenant
  • The Habit Burger Grill has 18+ years remaining on the current lease term with 2 (5-year) options to extend
  • Lease features 10% rental increases every 5 years throughout the initial term and at each option period
  • Absolute NNN with zero landlord responsibilites
  • Corporate guarantee by Yum! Brands Inc. (NYSE: YUM)

Location Description

The Habit Burger Grill is strategically located near the signalized, hard-corner intersection of West Parkridge Avenue and North Main Street, averaging a combined 41,700 vehicles passing by daily. Furthermore, the asset is positioned near the on/off ramps to two major freeways, Interstate 15 (157,000 VPD), and State Highway 91 (233,000 VPD). The site is ideally situated in the heart of a dense...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

The Habit Restaurants Inc is a burger-centric, fast casual restaurant concept. It specializes in preparing fresh, made-to-order char-grilled burgers and sandwiches featuring USDA choice...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 12,605 116,809 271,441
2023 Total Population : 12,405 115,592 268,713
2023 Employed Civilian Pop : 6,368 55,271 131,881
2023 Total Businesses : 1,106 6,209 9,892
2023 Average Household Income : $ 97,650 $ 109,447 $ 130,548
2023 Total Consumer Spending : $ 353 M $ 3227 M $ 8697 M
2023 Median Age : 34 34 34
2023 Total Households : 4,223 34,333 78,362
2023 Pop Age 25+: Bachelor's Degree : 1,650 12,159 36,382
2023 Average Home Value : $ 520,456 $ 567,030 $ 602,563
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
N Main St Cota St 2007 29,200 0.06 mi
W Parkridge Ave N Main St 2009 8,300 0.09 mi
Hamner Ave N Main St 2007 29,300 0.11 mi
E Parkridge Ave Corona Ave 2007 12,400 0.23 mi
Yuma Dr Hamner Ave 2008 28,000 0.23 mi
Mountain Ave 1st St 2006 8,150 0.26 mi
N Main St W Parkridge Ave 2007 22,900 0.32 mi
Hidden Valley Parkway 2021 141,500 0.32 mi
River Rd Headwater Rd 2008 8,800 0.34 mi
Corona Ave Gilmore Dr 2009 2,800 0.37 mi

Listing Broker

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