Jimmy Johns | 1238 SE Riverside Ave
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Jimmy Johns 1238 SE Riverside Ave
2,040 SF Retail Building Medford, OR 97501 $1,610,000 ($789/SF) 6% Cap Rate
Investment Highlights
- High-quality build-to-suit, absolute NNN Jimmy John’s and drive-thru, with approximately nine years remaining on an original 15-year lease
- Growing multi-unit operator with strong net worth, operating Jimmy John's locations in Southern Oregon and California as well as additional franchises
- Located across the street from a Grocery Outlet, Goodwill, and Staples-anchored shopping center
- 7.5% rent increases scheduled every ?ve years, including at the start of all three, ?ve-year option periods, offering a strong hedge against in?ation
- The Property has high exposure along main arterial, S Riverside Drive, with 17,500 VPD+
- Adjacent to a 79-acre mixed-use, master-planned community featuring residential, retail, and a 64K SF Providence medical facility with urgent care
Executive Summary
The Offering is an absolute NNN single tenant Jimmy John’s adjacent to a recently developed master planned community. There are approximately nine years remaining on an absolute NNN lease with an established multi-unit operator in Oregon and California. The building is high-quality build-to-suit construction with a drive-thru, exposed to high traffic counts of 17,500+ VPD with frontage on a main arterial, S Riverside Drive. The Property benefits from an increased draw to the trade area via nearby major national retailers.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Fast Food
Building Size
2,040 SF
Building Class
C
Year Built
2016
Price
$1,610,000
Price Per SF
$789
Cap Rate
6%
NOI
$96,600
Tenancy
Single
Building Height
1 Story
Building FAR
0.11
Lot Size
0.43 AC
Opportunity Zone
Yes
Zoning
C-R - Regional Commercial
Parking
21 Spaces (10.29 Spaces per 1,000 SF Leased)
Amenities
- Signage
- Wheelchair Accessible
- Storage Space
- Air Conditioning
- Smoke Detector
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 10378789 | Improvements Assessment | $410,830 |
| Land Assessment | $305,910 | Total Assessment | $716,740 |
PROPERTY TAXES
Parcel Number
10378789
Land Assessment
$305,910
Improvements Assessment
$410,830
Total Assessment
$716,740
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Jimmy Johns | 1238 SE Riverside Ave
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