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Views: 72 Updated: 11.21.23 Posted: 07.27.23 Status: Inactive

Summary

Price $1,627,000
Built/Renov 2003
Tenant Little Caesars
Cap Rate 7.00%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 1,540
Lease Start 07-01-2023
#Units 13
Price/SF $1,056.49
Expiration 06-30-2048
Tenant Type Fast Casual/Rest.
NOI $113,899
R. Term 23.7
Ownership Fee Simple
Rent/SF $73.96
Increases 1.5%/5/yrs
Pop 5Mi 25,314
Lot/AC 0.41
Options 4/5yrs/1.5%
AHHI 5Mi $81,485

Lease Highlights

  • Little Caesars recently signed a brand new 25-year lease with 4 (5-year) options to extend
  • The lease features 1.5% rental increases beginning on the sixth year of the initial term
  • Absolute NNN | Zero landlord responsibilities
  • Franchisee guaranteed lease (13 units)

Location Description

The subject property is strategically located along S. Dewey Street (U.S. Highway 83), which averages 10,300 vehicles passing by daily. The site benefits from excellent visibility via significant street frontage and a large pylon sign. Furthermore, the building is equipped with a drive-thru, providing ease and convenience for customers. On average, stores with drive-thrus experience higher...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Little Caesars
  • Guarantor:Franchisee
  • Company:Franchisee
  • # Units:13
  • Stock:Private

About Tenant

Little Caesars Enterprises, Inc (dba Little Caesars) is the third largest American pizza chain. It operates and franchises pizza restaurants in the United States and internationally in Asia, the...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 9,255 23,335 25,164
2023 Total Population : 9,285 23,424 25,286
2023 Employed Civilian Pop : 4,622 11,367 12,274
2023 Total Businesses : 824 1,312 1,358
2023 Average Household Income : $ 70,231 $ 73,999 $ 76,689
2023 Total Consumer Spending : $ 243 M $ 662 M $ 734 M
2023 Median Age : 38 40 40
2023 Total Households : 3,970 10,253 10,989
2023 Pop Age 25+: Bachelor's Degree : 837 2,090 2,328
2023 Average Home Value : $ 170,033 $ 195,027 $ 206,084
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
S Dewey St E C St 2018 10,180 0.12 mi
S Jeffers St W C St 2018 10,320 0.14 mi
E B St S Dewey St 2018 5,030 0.16 mi
W B St S Vine St 2018 6,635 0.20 mi
N Jeffers St E 2nd St 2018 18,130 0.28 mi
E Philip Ave S Dewey St 2018 8,050 0.28 mi
S Willow St W C St 2018 6,610 0.30 mi
W Phillip Ave E Philip Ave 2018 6,125 0.30 mi
S Willow St W A St 2018 7,130 0.37 mi
W Phillip Ave S Ash St 2018 6,905 0.42 mi

Listing Broker

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