Listed by CBRE - Orange County
$2,828,000
Carl's Jr.
Details
APN 049-500-001-000
Property Type Retail
Sub Type QSR/Fast Food
Square Footage 4,003
Net Rentable (SqFt) 4,003
Cap Rate 5.5%
NOI $155,515
Tenancy Single
Lease Expiration 08/31/2037
Pro-Forma NOI $165,581
Year Built 1979
Year Renovated 2022
Acreage 0.600
Parking Spaces 4 per 1,000 sq ft
Ground Lease No
Retail | 5.50% CAP | 4,003 SqFt
Marketing description
- International Brand – 100% leased to an established and iconic American fast-food tenant - Carl’s Jr.
- High Performing Location – Carl’s Jr. reports consistent sales, and is paying percentage rent in addition to base rent
- Long-Term History, Long-Term Extension – With over 45 years of history at this location (since 1981!), Carl’s Jr. recently extended its lease for a 15-year term (August 2037 expiration) with 2 additional 5-year options, demonstrating the tenant’s commitment to this location and its ongoing viability.
- Attractive Rental Increases – The 15-year lease extension is structured with 6% rental increases every 2 years, an extremely rare but extremely attractive investment attribute providing far superior income growth and inflation hedge than most single-tenant net-leased (STNL) investments.
- Synergistic Co-Tenancy – Carl’s Jr. is a drive-thru out-parcel to Westwood Village, a well-located neighborhood center with national and regional retail operators including Dollar Tree, O’Reilly Auto Parts, Metro by T-Mobile and Round Table Pizza
Investment highlights
- International Brand – 100% leased to an established and iconic American fast-food tenant - Carl’s Jr.
- High Performing Location – Carl’s Jr. reports consistent sales, and is paying percentage rent in addition to base rent
- Long-Term History, Long-Term Extension – With over 45 years of history at this location (since 1981!), Carl’s Jr. recently extended its lease for a 15-year term (August 2037 expiration) with 2 additional 5-year options, demonstrating the tenant’s commitment to this location and its ongoing viability.
- Attractive Rental Increases – The 15-year lease extension is structured with 6% rental increases every 2 years, an extremely rare but extremely attractive investment attribute providing far superior income growth and inflation hedge than most single-tenant net-leased (STNL) investments.
- Synergistic Co-Tenancy – Carl’s Jr. is a drive-thru out-parcel to Westwood Village, a well-located neighborhood center with national and regional retail operators including Dollar Tree, O’Reilly Auto Parts, Metro by T-Mobile and Round Table Pizza
Listing Contacts
Listed by CBRE - Orange County
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$155,515.00
$12,959.58/mo
Valuation Metrics
0
DSCR
5.5%
Cap Rate
5.5%
ROI
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