Investment Summary
Price | $1,706,000 |
Cap Rate | 7.15% |
NOI | $121,978 |
Lease Term | 20 years |
Lease Type | Absolute NNN lease, with tenant responsible for all taxes, insurance, and maintenance, including roof, structure, and parking lot |
Rental Increases | 1% annual rental increases |
Year Built | 2023 |
Building Size | 522 SF |
Lot Size | 0.41 acres (17,860 SF) |
Status | Available |
Lead Brokers | Michael T. Yuras, CCIM Vice Chairman 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Scott Crowle Executive Managing Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 Vincent Aicale Vice Chairman 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Ryan Forsyth Vice Chairman 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 |
Investment Highlights
20-YEAR ABSOLUTE NNN LEASE TO RAPIDLY GROWING COFFEE CHAIN
» Guaranteed by Southern Brew Corp, a 330+ unit QSR operator (Taco Bell) which has signed an exclusive development agreement with 7 Brew to develop 79 locations over the next eight years, 10 by the end of 2023 in markets in which the operator is already established
» Rare annual rental increases throughout the initial term and options periods
» No landlord management, making this an ideal opportunity for an out-of-area investor
» High-quality 2023 construction built to the latest 7 Brew prototype, featuring a dedicated dual-lane drive-thru for added customer convenience
CENTRAL LOCATION IN THE HEART OF JACKSONVILLE’S PRIMARY RETAIL CORRIDOR
» Prominent Location directly across from two primary Jacksonville shopping areas, Jacksonville Plaza and Pelham Plaza
» Excellent proximity to Jacksonville State University, Jacksonville’s 5th-largest employer featuring 1,108 employees and 8,311 students
» Immediately surrounded by major traffic-drivers such as Walmart Supercenter, Jacksonville High School, Johnson’s Giant Foods, Walgreens, Chick-fil-A, McDonald’s, and many others
HIGH-TRAFFIC LOCATION WITH EXCELLENT VISIBILITY ON MAJOR NORTH-SOUTH ALABAMA THOROUGHFARE
» High-visibility and easily accessible location at the intersection of Pelham Road South and Eighty Oaks Street (26,400+ AADT)
» 112,638 residents live within fifteen miles of the property, creating a large and stable customer base for the site
» Projected 13% income increases within 5-, 10-, and 15-mile radii over the next five years poise 7 Brew and Jacksonville for steady concurrent growth
» Centrally located between Huntsville, Birmingham, and Atlanta, allowing the site to capture tremendous commuter traffic
NEW 2023 CONSTRUCTION FEATURING DUAL-LANE DRIVE THRU
» High-quality 2023 construction built to the latest 7 Brew prototype, featuring a dedicated dual-lane drive-thru for added customer convenience
Property Description
» Brand New 20-Year Absolute NNN Lease to Rapidly Growing Coffee Chain
» This brand-new 7 Brew is conveniently located at the intersection of Pelham Road South and Eighty Oaks Street with prominent street visibility and direct access to over 26,400 vehicles per day directly in front of the property
» Prominent location directly across from two primary Jacksonville shopping areas, Jacksonville Plaza and Pelham Plaza
» Immediately surrounded by major traffic-driving tenants such as Walmart Supercenter, Jacksonville High School, Johnson’s Giant Foods, Walgreens, Chick-fil-A, McDonald’s, and many others
» High-quality 2023 construction built to the latest 7 Brew prototype, featuring a dedicated dual-lane drive-thru for added customer convenience