Cracker Barrel | 2+yrs Remain Corp Abs NNN 34930 Emerald Coast Pky

Investment Highlights

2+ Years Remaining | Corporate Signed | Scheduled Rental Increase | Reputable Restaurant Brand Outparcel to Shoppes at Paradise Isle (171,837 SF) | Immense Retail Corridor | National/Credit Tenants Popular Tourist Destination | Hospitality Cluster |Surrounded by Premier Golf Destinations Absolute NNN | Leased Fee Ownership | Zero Landlord Responsibilities Signalized, Hard Corner Intersection | Emerald Coast | Excellent Visibility & Access Demographics in 5-Mile Trade Area | Six-Figure Incomes

Executive Summary

SRS National Net Lease Group is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in an absolute NNN leased, corporate signed, investment grade (S&P: BB), Cracker Barrel Old Country Store (NASDAQ: CBRL) investment property located in Destin, Florida (Pensacola MSA). The tenant has over two years remaining in the initial term with 3 (5-year) options to extend. The lease features a 5% rental increase at the beginning of each option period, growing NOI and hedging against inflation. The lease is signed by Cracker Barrel Old Country Store, Inc. (S&P: BB) and is absolute NNN with zero landlord responsibilities, making it an ideal, management-free investment for a passive investor. Cracker Barrel Old Country Store, Inc. currently operates 664 restaurants in 45 states.

• Sale Type    Investment NNN
• Property Type    Retail
• Property Subtype    Restaurant Restaurant General Retail Freestanding Restaurant
• Building Size    12,120
• Building Class    B
• Year Built    2001
• Price    3,767,000
• Price Per SF    311
• Cap Rate    5
• NOI    188,326
• Tenancy    Single
• Building Height    1 Story
• Building FAR    0.13
• Land Acres    2.10 AC

• Corner Lot
• Signage
• Signalized Intersection
• Monument Signage