About This Restaurant
Investment Highlights
Zero Landlord Responsibility ? Absolute NNN lease. The tenant is responsible for paying the property taxes, insurance, and maintenance. Long Term Tenancy ? The tenant has operated at this site for over 36 years. Main Arterial Location ? The property benefits from excellent visibility and exposure being located on Bluefield Ave Seasoned Operator ? The lease is guaranteed by Mountain Star, LLC who operates 21 Hardee?s locations. Annual Rental Increase ? The lease calls for 1.50% annual increases providing an excellent hedge against inflation. University Proximity ? The property is ?0.5 miles from Bluefield state university that has an enrollment and staff of over 2,000 people.
Executive Summary
The subject property is a single-tenant, freestanding Hardee?s restaurant absolute net leased to Mountain Star, LLC (dba Hardee?s) a 21-unit franchisee. The lease calls for 1.5% annual rent increases. The property is located on Blue?eld Avenue, the city?s main arterial, with nearby tenant?s including McDonald?s, Dollar General, AutoZone, Dairy Queen, NAPA Auto Parts, and others. There are more than 23,000 residents in a 5-mile radius with average household income exceeding $60,000. Hardee?s is two blocks from Blue?eld State University, the region's leading institution of higher education.
Property Details
- Sale Type Investment NNN
- Property Type Retail
- Property Subtype Fast Food Fast Food General Retail Freestanding General Retail Restaurant General Retail Storefront Fast Food
- Building Size 4,074
- Building Class C
- Year Built 1987
- Price 955,550
- Price Per SF 235
- Cap Rate 10
- NOI 95,555
- Tenancy Single
- Building Height 1 Story
- Building FAR 0.18
- Land Acres 0.52 AC
Amenities
- Pylon Sign
- Drive Thru
Property Taxes
Parcel Number | 03-16-01660000 | Improvements Assessment | $41,640 |
Land Assessment | $426,420 | Total Assessment | $468,060 |
Date Created: | 2024-07-16 04:25:44 | Last Updated: | 2024-07-16 04:25:44 |
Address: | 901 Ave , Bluefield, West Virginia, 24701 |