TACO BELL
| Price | $2,327,000 |
| Cap Rate | |
| NOI | |
| Lease Term | 18 Years |
| Lease Type | Absolute NNN, With Tenant Responsible For All Taxes, Insurance, And Maintenance, Including Roof, Structure, And Parking Lot |
| Rental Increases | 1% Annual Rental Increases |
| Year Built | 2012 |
| Building Size | 2,003 SF |
| Lot Size | 0.45 Acre (19,602 SF) |
| Status | Sold |
| Lead Broker Information | Michael T. Yuras, CCIM Executive Managing Director 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Scott Crowle Senior Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 Vincent Aicale Cushman & Wakefield 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Ryan Forsyth Cushman & Wakefield 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 |
Investment Highlights
LONG-TERM ABSOLUTE NNN LEASE
» 18-year absolute NNN lease with no landlord management, providing an ideal investment for an out-of-area investor
» Operated by Taco Bell’s largest franchisee, with over 350 units
» Rare annual rental increases, providing an excellent hedge against inflation
HIGH-TRAFFIC LOCATION IN DENSE RETAIL CORRIDOR
» Excellent visibility and access to 33,130 vehicles per day directly in front of the property on Atlanta Highway and 135,000 vehicles within a five-mile radius
» Two miles away from Interstate 85, Montgomery’s primary east-west thoroughfare
» Within walking distance of Eastdale Mall, which features 964,717 SF of retail space, five anchor tenants (At Home, Dillard’s, J.C. Penny, and two Belk locations) and 71 stores (Hibbett Sports, Men’s Wearhouse, Zales, Chick-fil-A, rue21, Foot Locker, Chuck E. Cheese, GNC, LensCrafters, Bath & Body Works, and more)
» Three miles distance from 21 hotels
CENTRAL MONTGOMERY LOCATION
» Minutes away from Faulkner University (3,500+ students), Auburn University at Montgomery (5,200+ students), Lee High School (1,400+ students), Capitol Heights Junior High School (600+ students), Goodwyn Middle School (500+ students), and Dozier Elementary School (400+ students)
» Three miles from Baptist Medical Center East (176 beds)
» Located at the confluence of U.S. Highway 231, Interstate 85, Alabama State Route 152, and Intestate 65
Property Description
SOLD
The property is conveniently located and easily accessible from Atlanta Highway, a major economic and retail corridor for Montgomery, with excellent visibility and access to 33,130 vehicles per day directly in front of the location and 135,000 vehicles per day within a five-mile radius. The property has a beneficial proximity of two miles from Interstate 85, Montgomery’s primary east-west thoroughfare. Visibility is increased by the wide variety of shopping and national retail chains in the immediate vicinity, including three surrounding Walmart Supercenters and Eastdale Mall, which is within walking disance of the property. The mall features 964,717 square feet of retail space, five anchor tenants (At Home, Dillard’s, J.C. Penny, and two Belk locations), and 71 stores, including Hibbett Sports, Men’s Wearhouse, Zales, Chick-fil-A, rue21, Foot Locker, Chuck E. Cheese, GNC, LensCrafters, Bath & Body Works, and more name brand retailers. Multiple national restaurant chains also surround the location, such as Hardee’s, Burger King, Wendy’s, Dairy Queen, Red Lobster, McDonald’s, Sonic Drive-In, and Krystal. The property is easily accessible from 21 different hotels within
three miles.
Increased traffic is greatly aided by the many surrounding schools and educational institutions such as Faulkner University (3,500+ students), Auburn University at Montgomery (5,200+ students), Lee High School (1,400+ students), Capitol Heights Junior High School (600+ students), Goodwyn Middle School (500+ students), and Dozier Elementary School (400+ students). The location resides three miles from Baptist Medical Center East (176 beds), which was named one of the nation’s 100 Top Hospitals by Thomson Reuters and generated $530,687,823 in total patient revenue in 2018. The property is centrally located at the confluence of four major Montgomery roadways (U.S. Highway 231, Interstate 85, Alabama State Route 152, and Interstate 65), and is only five miles from Maxwell- Gunter Air Force Base, the largest employer in Montgomery (12,280 employees). The location is also primed to service incoming travelers from nearby Montgomery Regional
Airport, which accommodated 338,920 passengers in 2018.
