Listed by Matthews
$1,300,000
Hardee's | Excellent Sales | Hard Corner Site | Toledo, IA
Details
APN 14.22.254.003
Property Type Retail
Sub Type QSR/Fast Food
Square Footage 3,362
Net Rentable (SqFt) 3,362
Units 1
Cap Rate 7.54%
NOI $98,048
Occupancy 100%
Tenancy Single
Brand/Tenant Burger King, Wendy's
Lease Type Absolute NNN
Lease Expiration 12/31/2030
Remaining Term 4.5
Rent Bumps No
Lease Options 5 Year Options through 12/31/2060
Price per SqFt $387
Year Built 1986
Acreage 1.780
Investment Type Net Lease
Tenant Credit Franchisee
Ground Lease No
Sale Condition N/A
Recent Remodel | Percentage Rent | Franchisee Guarantee
Marketing description
- Absolute NNN Lease – The absolute triple-net (NNN) lease structure provides investors with a truly passive ownership experience, as the tenant is responsible for all property-related expenses, including maintenance, insurance, taxes, and repairs.
- Strong Store Sales | Above National Averages – This location consistently generates sales well above the Hardee’s national average, demonstrating strong unit-level performance and reinforcing the stability of the investment. Contact broker for additional details.
- Percentage Rent Upside – The property generated trailing 12-month percentage rent of $26,048, resulting in an effective yield approaching 26.6% on total rental income. Positioned on Hard Signalized Corner – Located at the signalized intersection of U.S. Highway 30 and South County Road, the property benefits from excellent visibility and exposure to approximately 10,000 vehicles per day.
- Long Operating History – Hardee’s has successfully operated at this location for more than 35 years, highlighting sustained customer demand, strong site performance, and long-term tenant commitment to the market.
- Spacious Lot with Future Flexibility – Situated on approximately ±1.78 acres, the property offers ample parking, efficient traffic circulation, and potential future expansion or redevelopment opportunities, enhancing long-term value.
- Attractive Yield and NOI – The asset offers a 7.54% cap rate and generates annual net operating income (NOI) of $98,048, providing investors with a compelling income-producing opportunity.
- Franchisee Guarantee – The lease is guaranteed by A & J Enterprises, Inc., an experienced Hardee’s franchisee that operates two Hardee’s locations.
- Minimal Market Competition – As one of only two national quick-service restaurant brands in Toledo, the property benefits from limited direct competition. The lack of competing national QSR concepts allows the tenant to capture a larger share of local dining demand and maintain a strong market presence.
Investment highlights
Matthews™ is pleased to to exclusively offer the opportunity to acquire the fee simple interest in a single tenant Hardee's property located at 118 US-30, Toledo, IA 52342. The Property consists of an approximately ±3,362 SF building on an approximately ±1.78 AC parcel of land. Located on a prime, signalized corner along Toledo’s main thoroughfare, this property boasts exceptional visibility and ease of access. The site's strong real estate fundamentals are proven by its performance, with an Average Unit Volume (AUV) tracking well above the national average for Hardee's. Featuring a recent remodel and a 35-year operational history, this offering presents a opportunity to acquire a high-yield investment at an attractive $/SF with a proven financial track record.
Listing Contacts
Listed by Matthews
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$98,048.00
$8,170.67/mo
Valuation Metrics
0
DSCR
7.54%
Cap Rate
7.54%
ROI
Map
Zoning
A AgricultureAgricultural District
View municipality zoning documents Upgrade to see the zone description and what's allowed on this property
Upgrade to search and view land use codes
View all 43 uses
View all 43 uses Last updated Mar 9, 2026 For deeper zoning details, reports are available at Zoneomics
Broker Selected Comps View More Comps
Property History
Similar Properties
Is there information that looks off?
