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Views: 70 DOM: 80 Updated: 10.30.24 Posted: 10.03.24 Status: Active

Summary

Price $2,667,000
Built/Renov 2023
Tenant Son of a Butcher (GL)
Cap Rate 5.25%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 2,389
Lease Start 04-01-2023
#Units 4
Price/SF $1,116.37
Expiration 03-31-2038
Tenant Type Fast Casual/Rest.
NOI $140,000
R. Term 13.3
Ownership Ground Lease
Rent/SF $58.60
Increases 10.0%/5/yrs
Pop 5Mi 125,744
Lot/AC 0.87
Options 4/5yrs/10%
AHHI 5Mi $162,603

Lease Highlights

  • New 15-year ground lease with 4 (5-year) options to extend
  • 10% increases every 5 years during the initial term and in each option period
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Son of a Butcher is strategically located on State Highway 114, a major thoroughfare with access to a substantial daily traffic count of 205,000 vehicles. The property is surrounded by prominent national retailers, including Super Target, Walmart Supercenter, Sam’s Club, The Home Depot, Lowe’s, and Costco. It is ideally positioned to benefit from the high traffic generated by both residents...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Son of a Butcher
  • Guarantor:Corporate
  • Company:FB Society
  • # Units:4
  • Stock:Private

About Tenant

Son of a Butcher is a nostalgic burger slider spot serving elevated versions of traditional burger sliders, shakes, and fries. At SOB they are proud to use A Bar N Ranch’s locally raised, organic...


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Listing Broker

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