Carl's Jr | 15yr Abs NNN w/ Annual Increases
4,014 SF | Retail Building | Salinas, CA 93907 | $3,773,000 ($940/SF) | 4.80% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $3,773,000
- Property Type
-
Retail, Restaurant
- Square Feet
- 4,014 SF
- Price / Square Foot
- $940
Listing Contacts
Gregory White
Verified Profile
- Property Info
Property Overview
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, drive-thru equipped, corporate guaranteed, Carl’s Jr. investment property located in Salinas, California. The tenant, Carl’s Jr. Restaurants, LLC, plans to remodel the store and recently extended their lease term by 15 years. The tenant now has approximately 14 years of firm term remaining with 3 (5-year) options to extend, demonstrating their long-term commitment to the site. The lease features 1.75% annual increases throughout the initial term and option periods, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management-free investment opportunity for a passive investor. Today, CKE Restaurants have more than 1,000 locations across the U.S. and serves 28 countries worldwide.
Property Details
- Class
- B
- Year Built
- 1982
- Stories
- 1
- Property Subtype
- Freestanding
- Lot Size (sq. ft)
- 35,284 SF
Highlights
- Recent 15-Year Lease Extension (14 Years Remaining) | 1.75% Annual Increases | Well-Known & Established Tenant
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
- Westridge Shopping Center (540,000 SF) | Dense Retail Corridor | Laurel West Shopping Center (180,000 SF) | Strong Tenant Synergy
- Signalized, Hard Corner Intersection | Drive-Thru Equipped |Hartnell College (12,000 Students) | State Hwy 101 (68,100 VPD)
- Strong Demographics in 5-Mile Trade Area
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