15-YEAR ABSOLUTE NNN SALE-LEASEBACK | 1498 Red Wolf Blvd
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15-YEAR ABSOLUTE NNN SALE-LEASEBACK 1498 Red Wolf Blvd
952 SF Retail Building Jonesboro, AR 72401 $1,493,333 ($1,569/SF) 7.50% Cap Rate
Investment Highlights
- Along Main Thoroughfare in Northeast Arkansas
- Personal Guarantor
- Located 1/4 Mile From Arkansas State University
- 15-Year NNN Lease
- Owner Operator Store
- Business Only Also For Sale @ $300,000
Executive Summary
This newly constructed freestanding Checkers is located directly on the highly coveted Red Wolf Blvd. in Jonesboro, AR lending it exposure to more than 41,000 cars per day. This site has excellent access with access points at both Red Wolf Blvd. & Nettleton Ave. The property is surrounded by other major retailers & restaurants that include Target, Chili’s, Slim Chickens, Olive Garden, Buffalo Wild Wings, Popeye's, Jimmy John’s, & many others located on the main Red Wolf Blvd. artery.
This property is being offered as a sell-leaseback with an initial 15-year term & three, 5-year options. There will be a 10% rent increase every five years of the initial term & at each option. The property is being offered with an NOI of $112,000 / YR & a cap rate of 7.50%.
The operator & franchisee is local and has a history of owning successful restaurants. He also owns other real estate & business operations.
This property is being offered as a sell-leaseback with an initial 15-year term & three, 5-year options. There will be a 10% rent increase every five years of the initial term & at each option. The property is being offered with an NOI of $112,000 / YR & a cap rate of 7.50%.
The operator & franchisee is local and has a history of owning successful restaurants. He also owns other real estate & business operations.
Property Facts
Sale Type
Investment NNN
Sale Condition
Sale Leaseback
Property Type
Retail
Property Subtype
Building Size
952 SF
Building Class
B
Year Built
2019
Price
$1,493,333
Price Per SF
$1,569
Cap Rate
7.50%
NOI
$112,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.04
Lot Size
0.50 AC
Opportunity Zone
Yes
Zoning
C-3 - C-3
Frontage
250 FT on Red Wolf Blvd.
Amenities
- Corner Lot
- Drive Thru
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 01-144283-04900 | Improvements Assessment | $194,591 |
| Land Assessment | $86,397 | Total Assessment | $280,988 |
PROPERTY TAXES
Parcel Number
01-144283-04900
Land Assessment
$86,397
Improvements Assessment
$194,591
Total Assessment
$280,988
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15-YEAR ABSOLUTE NNN SALE-LEASEBACK | 1498 Red Wolf Blvd
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