Listed by Colliers International Walnut Creek, Hanley Investment Group
$2,915,000
Jack in the Box
Details
APN 525-1200-3-3
Property Type Retail
Sub Type QSR/Fast Food, Restaurant
Net Rentable (SqFt) 1,840
Cap Rate 4.25%
NOI $123,869
Tenancy Single
Lease Type Absolute NNN
Lease Term 38
Lease Expiration 06/15/2029
Rent Bumps Yes
Lease Options Two 5-Year
Year Built 1968
Acreage 0.380
Investment Type Net Lease
Tenant Credit Credit Rated
Lease Commencement 06/16/1991
Retail | 4.25% CAP
Marketing description
Current Tenant: Jack in the Box. LED: 6/16/29
Investment highlights
- Single-Tenant Corporate Jack in the Box Drive-Thru (NASDAQ: JACK):
- Absolute NNN lease; no landlord responsibilities
- The tenant recently exercised one of their options, showing their commitment to the location
- CPI (15% maximum) increases in each of the two 5-year options
- Jack in the Box (NASDAQ: JACK) is a restaurant company that operates and franchises Jack in the Box, one of the nation’s largest hamburger chains with approximately 2,200 restaurants across 22 states, and Del Taco, the second largest Mexican-American QSR chain by units in the U.S. with approximately 600 restaurants across 17 states
- Proven Track Record as a Drive-Thru Restaurant: The subject property has a 34+ year track record
- operating as a drive-thru restaurant concept demonstrating the demand for retailers looking for a drive-thru on Fremont Boulevard
- High-Barriers-to-Entry Market; Long-Term Intrinsic Value:
- The Jack in the Box building has a drive-thru window, which provides long-term intrinsic value for the future owner due to the drive-thru restriction for new buildings in this part of Fremont (contact broker for more information).
- Hard-Corner, Signalized-Intersection Location of Fremont Boulevard and Irvington Avenue
- Situated in the Heart of Silicon Valley:
- Fremont is home to a broad variety of innovative companies including over 1,200 high-tech, life science, and clean-technology firms
- The property is located just minutes from the Tesla Gigafactory – the largest factory on the West Coast, with over 20,000 employees
- #1 for Tech Startups Per Capita in the Country ‒ SizeUp.com
- Irreplaceable East Bay Area Infill Location within Dense and Affluent Silicon Valley Market: The property is a 45-minute drive to Downtown Oakland, a one-hour drive to San Francisco, and a 25-minute drive to Downtown San Jose
- 4th-largest city in Silicon Valley
- Over 245,000 people within a 5-mile radius of the property
- Average household incomes in excess of $218,000 within a 3-mile radius of the property
Listing Contacts
Listed by Colliers International Walnut Creek, Hanley Investment Group
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$123,869.00
$10,322.42/mo
Valuation Metrics
0
DSCR
4.25%
Cap Rate
4.25%
ROI
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