loader
Join Free
Views: 118 DOM: 107 Updated: 11.08.24 Posted: 09.05.24 Status: Active

Summary

Price $2,842,000
Built/Renov 2024
Tenant Jimmy John's (GL)
Cap Rate 4.75%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 2,180
Lease Start 06-27-2024
#Units 50
Price/SF $1,303.67
Expiration 06-26-2044
Tenant Type Fast Casual/Rest.
NOI $135,000
R. Term 19.6
Ownership Ground Lease
Rent/SF $61.93
Increases 10.0%/5/yrs
Pop 5Mi 159,727
Lot/AC 0.64
Options 4/5yrs/10%
AHHI 5Mi $169,378

Lease Highlights

  • Brand new 2024 construction
  • Jimmy John’s has 19+ years remaining on the current ground lease term with 4 (5-year) options to extend
  • The lease features 10% rental increases every 5 years throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • 50+ unit Jimmy John's Franchisee

Location Description

Jimmy John's is strategically located on North 87th Street, with access to 15,400 vehicles passing by daily. The property is adjacent to Walmart and in immediate proximity to the Loop 101 Freeway, a major connector in the Phoenix area. Additionally, it is surrounded by office and business parks and is just two miles from WestWorld of Scottsdale and TPC Scottsdale, home of the annual Waste...

...

Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Jimmy John's
  • Guarantor:Franchisee
  • Company:Atlas 0519 Inc.
  • # Units:50
  • Tenant S&P: B+
  • Moody’s: B2
  • Stock:Private

About Tenant

Jimmy John’s is an American sandwich chain that is almost entirely franchises. The business was founded in 1983 with only four sandwiches on the original menu. The first Jimmy John’s Gourmet...


...

Listing Broker

Loading...
Disclaimer & Confidentiality
All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT

GET IN TOUCH

my activity