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Views: 84 DOM: 50 Updated: 09.26.24 Posted: 09.26.24 Status: Active

Summary

Price $445,000
Built/Renov 2022
Tenant Scooter's Coffee (GL)
Cap Rate 7.00%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 632
Lease Start 02-28-2022
#Units 40
Price/SF $704.11
Expiration 02-27-2032
Tenant Type Fast Food/QSR
NOI $31,150
R. Term 7.3
Ownership Ground Lease
Rent/SF $49.37
Increases 10.0%/5/yrs
Pop 5Mi 5,562
Lot/AC 0.30
Options 4/5yrs/10%
AHHI 5Mi $59,931

Lease Highlights

  • Scooter’s Coffee has 7+ years remaining on the current ground lease term with 4 (5-year) options to extend
  • The lease features 10% rental increases throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Lease guaranteed by MCY, LLC | Operator is the second largest franchisee with over 40 locations

Location Description

Scooter's Coffee is strategically located on S Fremont Street, with access to 8,100 vehicles passing by daily. The property is part of the Orchard Corners Shopping Center, anchored by a high-performing Hy-Vee grocery store, Tractor Supply Co., and McDonald’s. Within a 3-mile radius, key educational institutions include Shenandoah Elementary School, Shenandoah Middle School, and Shenandoah High...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Scooter's Coffee
  • Guarantor:Franchisee
  • Company:MCY, LLC
  • # Units:40
  • Stock:Private

About Tenant

Scooter’s Coffee is an American drive-thru specialty coffee kiosk chain. The private company is one of the fastest-growing drive-thru coffee franchises in the nation. Scooter’s prides itself on...


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