Aspen Dental & Jersey Mike's
Retail | 7.02% CAP | 5,074 SqFt
Marketing description
SRS Real Estate Partners, LLC in collaboration with Gateway Real Estate Advisors is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN-leased retail strip featuring Aspen Dental and Jersey Mike's. Both tenants are nationally recognized brands with an average remaining lease term of over five (5) years and multiple extension options, demonstrating long-term commitment to the site and supporting durable cash flow. Jersey Mike's also features a rent increase after year five, and its three (5-year) renewal options are at fixed increases, providing built-in income growth potential and future upside. Both leases are triple-net, with tenants reimbursing their pro rata share of CAM, taxes, and insurance, helping minimize expense leakage for an investor with the landlord generally only responsible for common areas, landscaping, and parking.
Investment highlights
- Aspen Dental Management, Inc signed lease
- Nationally recognized Jersey Mike's and Aspen Dental
- Over 5 years of average remaining term among the tenants
- Both tenants have multiple options to extend their lease showing their commitment to the site and providing long term income stability
- Tenants pays for their pro rata share of CAM, taxes, insurance
- Expense leakage is minimized for a future investor
- Landlord responsible for common areas, landscaping, and parking lot
- The subject property is located directly across from a Harbor Freight anchored center featuring a Dollar Tree, Dunham Sports,
- Across the intersection is a Hobby Lobby and TJ Maxx-anchored center with tenants including Jimmy John's, Bath & Body Works and more.
- The subject is also less than a mile from a Walmart Super-center and Menard's
- The active retail corridor brings high traffic with the intersection of 34th Infantry Division Hwy and N Quincy Ave seeing a combined 26,500 vehicles passing by daily.
- Strong tenant synergy promotes crossover shopping to the subject property
- More than 28,500 residents and 16,700 employees support the trade area
- $78,364 average household income
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