Famous Dave's

7557 East 36th Avenue, Denver, CO 80238

$5,657,000

Cap Rate 5.79%

Views: 160 DOM: 388 Updated: 08.07.24 Posted: 10.24.23 Status: Active

Summary

Price $5,657,000	Built/Renov 2005	Tenant Famous Dave's
Cap Rate 5.79%	Lease Type Abs NNN	Guarantor Corp Traded
Size/SF 6,445	Lease Start 05-01-2022	#Units 185
Price/SF $877.73	Expiration 10-31-2030	Tenant Type Casual Dining
NOI $327,540	R. Term 5.11	Ownership Fee Simple
Rent/SF $50.82	Increases 3.0%/1/yrs	Pop 5Mi 394,817
Lot/AC 1.30	Options 2/5yrs/3%	AHHI 5Mi $118,037

Lease Highlights

Famous Dave’s has 7 years remaining on its current lease term with 2 (5-year) options to extend
The lease features 3% rental increases annually
Absolute NNN | Zero landlord responsibilities
Corporate guaranteed lease
Famous Dave’s is publicly traded (TSX: MTY)

Location Description

Famous Dave's is strategically located at the signalized, hard corner intersection of East 36th Avenue and Syracuse Street with excellent access and visibility to 18,200 vehicles per day. It is in close proximity to I-70 (162,000 VPD), I-270 (104,000 VPD), and Quebec St (70,000 VPD). The subject property is positioned in a dense retail corridor, and located in the heart of Quebec Square, which...

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Key Features

Signalized intersection
Hard corner intersection
Dense retail corridor
Freeway close
Top 100 MSA
Affluent AHHI $100K 5 Mi
Absolute NNN
Annual rent increases
Corporate Guarantee
Publicly traded company

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Links

Famous Dave's Wikipedia Famous Dave's Wikipedia Denver, Colorado Zip Code 80238 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Famous Dave's
Guarantor:Corp Traded
Company:MTY Food Group
# Units:185
Stock: TSX: MTY

About Tenant

Famous Dave’s of America is a chain of barbecue restaurants located primarily in the midwestern United States. The chain serves pork ribs, chicken, beef brisket, as well as distributing barbecue...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	14,791	123,535	408,930
2023 Total Population :	13,387	121,513	391,900
2023 Employed Civilian Pop :	6,784	64,514	219,236
2023 Total Businesses :	624	4,960	17,761
2023 Average Household Income :	$ 157,851	$ 137,877	$ 119,468
2023 Total Consumer Spending :	$ 729 M	$ 5385 M	$ 17082 M
2023 Median Age :	36	35	35
2023 Total Households :	5,416	45,245	164,898
2023 Pop Age 25+: Bachelor's Degree :	2,563	21,444	77,510
2023 Average Home Value :	$ 673,528	$ 719,942	$ 682,635

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
QUEBEC ST	E 36th Ave	2019	45,000	0.13 mi
E 35th Ave	Syracuse St	2012	9,196	0.17 mi
Quebec St	E 35th Ave	2005	67,664	0.21 mi
E 35th Ave	Syracuse St	2012	8,871	0.21 mi
E 35th Avenue	Quebec St	2021	4,996	0.22 mi
E 36th Ave	Quebec St	2012	1,957	0.24 mi
Quebec St	E 38th Ave	2013	38,731	0.25 mi
East 35th Avenue	Poplar St	2019	4,252	0.25 mi
Quebec Street	E 39th Ave	2018	41,586	0.26 mi
East 38th Avenue	Poplar St	2018	1,296	0.28 mi

Listing Broker

Aron Cline

Berkeley Capital Advisors

Contact

177 Listings
26886 Views
21 Sold

Calvin Short

Berkeley Capital Advisors

Contact

187 Listings
27862 Views
23 Sold

Aron Cline

Specializing in Single Tenant Net Lease and Shopping Centers, Aron Cline leads Berkeley Capital Advisors’ West Coast Office. Since 2011, Aron has been actively engaged in the commercial real estate space. Over the last decade, he and his team have been regarded as one of the most active brokerage teams in the country - having brokered over 1,300 transactions totaling $3.5 billion. His dedication and success have earned him the trust of some of the country’s top institutions, developers, high ne

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Calvin Short

Calvin Short joined Berkeley Capital Advisors in 2021 and leads the West Coast capital markets group. Since joining Berkeley, Calvin has been a part of closing 1,400 separate transactions with $4 billion in sales volume. Prior to Berkeley, Calvin served as Senior Vice President at Matthews REIS where he was consistently ranked within Matthews’ top five producing agents. In 2012, he graduated from The University of San Diego with a B.A. in Real Estate Finance. Calvin has spent the past 10 years

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