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Views: 96 DOM: 163 Updated: 09.10.24 Posted: 07.11.24 Status: Active

Summary

Price $1,241,380
Built/Renov 2017
Tenant Long John Silver's
Cap Rate 7.25%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 2,000
Lease Start 05-23-2017
#Units 260
Price/SF $620.69
Expiration 06-30-2032
Tenant Type Fast Food/QSR
NOI $90,000
R. Term 7.6
Ownership Fee Simple
Rent/SF $45.00
Increases 10.0%/3/yrs
Pop 5Mi 26,697
Lot/AC 1.00
Options 6/5yrs/10%
AHHI 5Mi $36,660

Lease Highlights

  • Long John Silver's has 7+ years remaining on the current lease term with 6 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Lease guaranteed by Charter Foods, Inc (260 units backed)

Location Description

Long John Silver's is strategically located on South Highland Avenue, with access to 32,300 vehicles passing by daily. The property is surrounded by well-known national tenants such as Taco Bell, Wendy's, O'Reilly Auto Parts, Verizon, Dunkin', and more. The 5-mile trade area boasts a population of 26,697 residents with an average household income of $36,660. Jackson is a city in and the county...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Long John Silver's (“LJS”) is the world’s most popular quick-service seafood chain. The first restaurant opened in 1969 in Lexington, Kentucky under the name Long John Silver's Seafood...


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 2,351 8,161 27,179
2024 Total Population : 2,396 8,302 27,547
2024 Employed Civilian Pop : 967 3,199 9,988
2024 Total Businesses : 169 358 1,227
2024 Average Household Income : $ 56,502 $ 64,992 $ 59,339
2024 Total Consumer Spending : $ 50 M $ 186 M $ 586 M
2024 Median Age : 40 40 38
2024 Total Households : 989 3,171 10,953
2024 Pop Age 25+: Bachelor's Degree : 95 447 2,020
2024 Average Home Value : $ 151,967 $ 207,329 $ 199,095
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
S Highland Ave Rebel Rd 2012 27,550 0.44 mi
CHESTER LEVEE RD. Jordan Ln 2021 2,213 0.44 mi
Chester Levee Road Jordan Ln 2022 2,198 0.44 mi
South Highland Avenue Rebel Rd 2022 36,540 0.57 mi
Harts Bridge Road Chester Levee Rd 2022 3,171 0.88 mi
HARTS BRIDGE RD. Camellia Dr 2021 3,191 0.88 mi
Perry Switch Road Grove Ave 2022 1,588 0.90 mi
PERRY SWITCH RD. Grove Ave 2021 1,603 0.90 mi
Perry Switch Rd Chester Levee Rd 2003 1,330 0.91 mi
S JACKSON Camellia Dr 2019 1,851 0.97 mi

Listing Broker

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