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Views: 88 Updated: 08.06.24 Posted: 04.09.24 Status: Sold

Summary

Price $2,258,000
Built/Renov 1989/2010
Tenant Taco Bell (GL)
Cap Rate 4.65%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 2,240
Lease Start 12-01-2023
#Units 30
Price/SF $1,008.04
Expiration 06-30-2035
Tenant Type Fast Food/QSR
NOI $105,000
R. Term 10.9
Ownership Ground Lease
Rent/SF $46.88
Increases 10.0%/5/yrs
Pop 5Mi 393,555
Lot/AC 0.52
Options 4/5yrs/10%
AHHI 5Mi $99,450

Lease Highlights

  • Taco Bell has 11 years remaining on the current ground lease term with 4 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Absolute NNN | Zero landlord responsibilities
  • Lease guaranteed by Engen Ventures, Inc.

Location Description

Taco Bell is strategically located on Mack Road, a major retail thoroughfare with access to 31,900 vehicles passing by daily. Additionally, the property enjoys proximity to State Highway 99, a major north/south thoroughfare traversing the city of Sacramento, which sees a traffic count of 196,000 VPD. Moreover, it is conveniently situated less than 2 miles southwest of Florin Towne Center, a...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Taco Bell
  • Guarantor:Franchisee
  • Company:Engen Ventures, Inc.
  • # Units:30
  • Tenant S&P: BB+
  • Moody’s: Ba2
  • Stock: NYSE: YUM

About Tenant

Taco Bell is an American-based chain of fast food restaurants originating in Irvine, California in 1962, by founder Glen Bell. Taco Bell is the leading Mexican-inspired, quick-service restaurant...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 33,054 175,356 394,865
2023 Total Population : 32,801 175,272 393,555
2023 Employed Civilian Pop : 13,017 70,663 172,774
2023 Total Businesses : 323 3,208 9,281
2023 Average Household Income : $ 78,171 $ 80,949 $ 99,450
2023 Total Consumer Spending : $ 664 M $ 3651 M $ 10900 M
2023 Median Age : 31 32 34
2023 Total Households : 9,708 51,650 126,563
2023 Pop Age 25+: Bachelor's Degree : 2,443 13,673 46,062
2023 Average Home Value : $ 348,539 $ 430,961 $ 509,657
*ESRI data is presented for informational purposes only

Listing Broker

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