Investment Summary
Price | $2,599,000 |
Cap Rate | 6.35% |
NOI | $165,000 |
Lease Term | 15 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 | 510 SF |
Lot Size | 0.51 acres (22,200 SF) |
Status | Available |
Lead Brokers | Scott Crowle Executive Managing Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 Jack Hinson Brokerage 704.572.9921 j.hinson@cushwake.com CA RE License #02059267 Michael T. Yuras, CCIM Vice Chairman 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 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
15-YEAR ABSOLUTE NNN LEASE TO RAPIDLY GROWING COFFEE CHAIN
» 15-year absolute NNN lease to 7 Brew
» Arkansas-based 7 Brew was founded in 2016 and has since surpassed 150 stores open and operating in 25+ states, with the rights to over 3,000 units already sold to franchisees
» Leased to 7Venture Inc., an affiliate of K-Mac Enterprises and a rapidly growing operator with plans to develop up to 40 new locations by the end of 2023
» Guaranteed by 7Venture, Inc., an affiliate of K-MAC Enterprises, a 325+ unit QSR operator (Taco Bell, KFC, Whataburger, and Golden Corral) which has plans to build another 200+ 7 Brew locations in North Carolina, South Carolina, Georgia, Florida, Indiana, and Oklahoma by 2027
» Rare annual rental increases throughout the initial term and options periods
» No landlord management, making this an ideal opportunity for an out-of-area or passive investor
TROPHY LOCATION IN A DENSE RETAIL CORRIDOR MINUTES FROM THE ATLANTIC OCEAN
» Trophy location along U.S. Route 90/Beach Boulevard, a major Florida east-west thoroughfare just minutes from the Atlantic Ocean (46,500 AADT)
» Located directly in front of TownPlace Suites by Marriott (93 rooms) and adjacent to Hampton Inn & Suites (112 rooms)
» Across the street from a well-performing Target-anchored center, creating substantial traffic drivers for the property
» Beneficial proximity to the Mayo Clinic Jacksonville (304 beds), the #1 ranked hospital in Florida by U.S. News & World Report and one of Jacksonville’s largest employers and economic drivers ($4 billion contributed to local economy, supports 10,000+ jobs)
» Immediately surrounded by major traffic-driving tenants including Walmart Supercenter, Michaels, Office Max, Panera Bread, Publix, Chick-fil-A, Chipotle, Taco Bell, Chase Bank, and a plethora of others
GROWING FLORIDA SUBURB WITH IDEAL DEMOGRAPHICS
» 172,734 residents live within five miles of the property, creating an extremely large and stable customer base for the site
» Excellent average household income of $138,499 within a one-mile radius
» Projected 12% income increases within 1-, 3-, and 5-mile radii over the next five years poise 7 Brew and Jacksonville for steady concurrent growth
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
» Site is open and operating
Property Description
» Trophy location along U.S. Route 90/Beach Boulevard, a major Florida east-west thoroughfare just minutes from the Atlantic Ocean (46,500 AADT)
» Located directly in front of TownPlace Suites by Marriott (93 rooms) and adjacent to Hampton Inn & Suites (112 rooms), the site is ideally set to capture significant foot-traffic
» Beneficial proximity to the Mayo Clinic Jacksonville (304 beds), the #1 ranked hospital in Florida by U.S News & World Report and one of Jacksonville’s largest employers and economic drivers ($4 billion contributed to local economy, supports 10,000+ jobs)
» 172,734 residents live within five miles of the property, creating an extremely large and stable customer base for the site
» Excellent average household income of $138,499 within a one-mile radius
» Across the street from a well-performing Target-anchored center, creating substantial traffic drivers for the property