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Views: 158 DOM: 549 Updated: 08.06.24 Posted: 06.03.23 Status: Active

Summary

Price $3,415,000
Built/Renov 1967
Tenant Shakey's Pizza
Cap Rate 5.35%
Lease Type NN+
Guarantor Franchisee
Size/SF 6,490
Lease Start 01-01-2023
#Units 500
Price/SF $526.19
Expiration 12-31-2032
Tenant Type Casual Dining
NOI $182,719
R. Term 8.1
Ownership Fee Simple
Rent/SF $28.15
Increases 3.0%/1/yrs
Pop 5Mi 598,507
Lot/AC 0.22
Options 2/5yrs/3%
AHHI 5Mi $127,311

Lease Highlights

  • The tenant has approximately 10 years remaining in their current lease term with 2 (5-year) options to extend 
  • The lease features 3% annual rental increases during the initial term and at the beginning of each option 
  • Favorable NN+ lease landlord responsibilities limited to roof and structure 
  • Store sales reported
  • Founded in 1954, Shakey's was the first franchise pizza chain in the United States

Location Description

Shakey’s Pizza is strategically located near the signalized, hard corner intersection of Chandler Boulevard and Laurel Canyon Boulevard with access to 49,000 vehicles per day. The asset also benefits from excellent visibility and access via a large pylon sign and a convenient point of ingress/egress. The property is ideally situated 1 mile south of NOHO West, a 398,000 SF shopping center...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Shakey's Pizza
  • Guarantor:Franchisee
  • Company:SCO, LLC
  • # Units:500
  • Stock:PSE: PIZZA

About Tenant

Shakey's Pizza is a pizza restaurant chain based in the United States. The restaurant’s menu includes classic pizza, build-your-own pizzas, fried chicken, salads, sides, beverages, desserts,...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 37,892 294,737 599,538
2023 Total Population : 37,748 290,544 596,191
2023 Employed Civilian Pop : 21,187 154,045 310,344
2023 Total Businesses : 1,902 16,893 37,247
2023 Average Household Income : $ 120,641 $ 122,637 $ 127,696
2023 Total Consumer Spending : $ 1745 M $ 12654 M $ 25118 M
2023 Median Age : 40 38 38
2023 Total Households : 17,158 121,280 231,383
2023 Pop Age 25+: Bachelor's Degree : 11,193 68,886 129,065
2023 Average Home Value : $ 1,091,235 $ 1,100,877 $ 1,101,833
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Laurel Canyon Blvd Weddington St 2007 31,522 0.02 mi
Chandler Blvd Laurel Canyon Blvd 2010 13,183 0.07 mi
Chandler Blvd Laurel Canyon Blvd 2007 11,056 0.08 mi
Laurel Canyon Blvd Magnolia Blvd 2005 28,817 0.11 mi
Weddington St Ben Ave 2002 1,602 0.13 mi
Chandler Blvd Agnes Ave 2002 18,042 0.13 mi
Laurel Canyon Blvd Albers St 2007 31,821 0.15 mi
Magnolia Blvd Vantage Ave 2010 22,522 0.18 mi
Laurel Canyon Blvd Hartsook St 2005 26,375 0.21 mi
Laurel Canyon Blvd Albers St 2008 30,983 0.26 mi

Listing Broker

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