Hardee’s Ground Lease,
Jasper, AL Investment Summary
| Price | $1,300,000 |
| Cap Rate | |
| NOI | |
| Lease Term | 20 Years |
| Lease Type | Absolute NNN Corporate Ground Lease, With Tenant Responsible For All Taxes, Insurance, And Maintenance, Including Roof, Structure, And Parking Lot |
| Rental Increases | 10% Rental Increases Every Five (5) Years Starting Year 11 |
| Year Built | 2022 |
| Building Size | 3,070 SF |
| Lot Size | 0.8 Acres (34,848 SF) |
| Status | Sold |
| Lead Brokers | Vincent Aicale Executive Managing Director 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Michael T. Yuras, CCIM Vice Chairman 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Ryan Forsyth Executive Managing Director 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 Scott Crowle Executive Managing Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 |
Investment Highlights
NEW 20-YEAR ABSOLUTE NNN CORPORATE GROUND LEASE WITH SCHEDULED RENTAL INCREASES
» New 20-year absolute NNN corporate ground lease
» No landlord management, ideal for an out-of-area investor
» 10% rental increases every five years starting on year 11, providing a hedge against inflation
» New 2022 remodel featuring drive-thru for added customer convenience
HIGH-VISIBILITY LOCATION IN DENSE RETAIL CORRIDOR NEAR STRONG TRAFFIC DRIVERS
» Located along Highway 78, with excellent visibility and access to 26,531 vehicles per day
» Across from Jasper Mall (31 stores, 350,000 SF) and surrounded by national tenants such as Walmart Supercenter, Walgreens, CVS Pharmacy, Hobby Lobby, Big Lots, Verizon Wireless, AT&T, Chick-fil-A, McDonald’s, and many more
» 1.5 miles from Bevill State Community College (3,526 students) with proximity to several well-attended schools including Valley Elementary/Junior High School (617 students), Jasper High School (592 students), and many others
» Situated less than a mile from four hotels with 280 rooms, providing an ideal customer base
» Less than three miles from Walker Baptist Medical Center (267 beds)
CENTRAL LOCATION NEAR ALABAMA’S MOST POPULOUS CITY
» Near many single family housing developments and apartment complexes including The Bluff Apartments (60 units) and Mountainside Apartments (56 units)
» Average annual household income of $73,690 within one mile (projected 8 percent growth by 2026)
» Beneficial proximity to Walker County Airport-Bevill Field and Birmingham-Shuttlesworth International Airport (Alabama’s largest airport)
» Gateway to Birmingham, the most populous city in Alabama (209,403 population)
Property Description
SOLD
Hardee’s is located along U.S. Highway 78, with excellent visibility and access to 26,531 vehicles per day. The property is across from Jasper Mall (31 stores, 350,000 SF) and surrounded by national tenants such as Walmart Supercenter, Walgreens, CVS Pharmacy, Hobby Lobby, Big Lots, Verizon Wireless, AT&T, Chick-fil-A, McDonald’s, and many more. The site is 1.5 miles from Bevill State Community College (3,526 students) with proximity to several well-attended schools including Valley Elementary/Junior High School (617 students), Jasper High School (592 students), and many others. The property is situated less than a mile from four hotels with 280 rooms, providing an ideal customer base. The site is less than three miles from Walker Baptist Medical Center (267 beds).
The property is near many single family housing developments and apartment complexes including The Bluff Apartments (60 units) and Mountainside Apartments (56 units). 20,143 residents reside within a five-mile radius of the site. The average annual household income is $73,690 within one mile and is projected to increase eight percent by 2026, poising Hardee’s and Jasper for concurrent growth. The property maintains beneficial proximity to Walker County Airport-Bevill Field and Birmingham-Shuttlesworth International Airport (Alabama’s largest airport). The location is a gateway to Birmingham, the most populous city in Alabama (209,403 population).
