Investment Summary
Price | $1,654,000 |
Cap Rate | 7.50% |
NOI | $124,000 |
Lease Term | 15 Years (11+ Years Remaining) |
Lease Type | Absolute NNN, with Tenant Responsible for All Taxes, Insurance, and Maintenance, Including Roof, Structure, and Parking Lot |
Rental Increases | 7% Rental Increases Every Five (5) Years |
Year Built | 2019 |
Building Size | ±3,188 SF |
Lot Size | 1.02 Acres (44,602 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 Executive Managing Director 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Ryan Forsyth Executive Managing Director 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 |
Investment Highlights
ABSOLUTE NNN GUARANTEED LEASE WITH 11+ YEARS REMAINING
» 15-year absolute NNN guaranteed lease with 11+ years remaining
» No landlord management, ideal for an out-of-area investor
» 7% rental increases every five (5) years
» The McAlister’s brand has over 500 restaurants in 28 states and has been awarded numerous industry accolades for its service, atmosphere, and customer satisfaction
EASILY ACCESSIBLE LOCATION NEAR A MAJOR THOROUGHFARE
» Easily accessibly location along State Route 104/Broadway Street (22,300 AADT)
» Immediate access to Interstate 172 (8,500 AADT), a major north-south thoroughfare traversing the entirety of Quincy
» Average annual household income of $90,443 within one mile
» 47,558 residents within a five-mile radius of the property
» Projected 14 percent average annual household income increase within one mile of the site in the next five years, poising McAlister’s Deli and Quincy for significant concurrent growth
CENTRAL LOCATION NEAR LARGE EMPLOYERS, RETAILERS, AND COMMUNITY HUBS
» Surrounded by a strong mix of well-established national tenants in a dense retail corridor, including Walmart Supercenter, Lowe’s, T.J. Maxx, DICK’S Sporting Goods, Kohl’s, and many more
» Beneficial proximity to Quincy’s largest employers, including Knapheide Manufacturing, Titan International, and Phibro Animal Health (combined 2,503 employees)
» Central location in the Quincy Public School District (10 schools, 6,543 combines students)
» Three miles from John Wood Community College (2,511 students, 562 employees)
» 4.5 miles from Blessing Hospital (347 beds, 2,914 employees)
UPGRADED 2019 CONSTRUCTION
» Features latest McAlister’s Deli prototype
» Includes drive-thru pick-up window for take-out orders made online or via phone
» Location includes patio seating for added customer convenience
Property Description
The property has an easily accessible location along State Route 104/Broadway Street, with visibility and access to 17,200 vehicles per day. The site also maintains immediate access to Interstate 172, a major north south thoroughfare traversing the entirety of Quincy (7,000 AADT). The property benefits from its central location in a highly populated area, with 47,056 residents living within a five-mile radius of the location. The site also has a beneficial location in an extremely affluent area, with an average annual household income of $93,303 within a three-mile radius of the property. With a projected 11 percent average annual household income increase within one mile of the site in the next five years, McAlister’s Deli and Quincy are poised for significant concurrent growth.
The site benefits from its location near large employers, retailers, and community hubs. The property maintains a beneficial proximity to Quincy’s largest employers, including Knapheide Manufacturing, Titan International, and Phibro Animal Health (combined 3,300 employees). Traffic to the site is increased by its proximity to nearby John Wood Community College (2,390 students, 562 employees) and Blessing Hospital (307 beds, 3,088 employees). The location is surrounded by a strong mix of well established national tenants in a dense retail corridor, including Walmart Supercenter, Lowe’s, T.J. Maxx, DICK’S Sporting Goods, Kohl’s, and many more. The site experiences increased traffic from its centralized location in the Quincy Public School District (10 schools, 6,493 combined students).