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Restaurant

Cool Hand Luke's Steakhouse

1470 N Cherry St, Tulare, CA 93274

Listing Price: $3,395,000

Cap Rate
5.48%
Tenant Name
Cool Hand Luke's Steakhouse
Years Remaining On Lease
4.2
Gross SF
7,182
Guarantor
Personal Guarantee
Rentable SF
7,182
Price/Gross SF
$472.71
Lease Type
Absolute Net
Rent Per Square Feet
$25.90

Investment Overview

Marcus & Millichap is proud to offer for sale fee simple ownership of the Cool Hand Luke’s Steakhouse located off Highway 99 in Tulare, CA. The offering includes a favorable absolute NNN lease with zero landlord obligations. Cool Hand Luke’s has successfully operated at the location since 2016 and achieved a steady increase in sales year over year. Located off Cherry St, the site benefits from its proximity to the Tulare Outlets, the Monte Vista Shopping Center, as well as it’s adjacent location to the La Quinta Inn and the Casa Del Rey, an 83-unit apartment complex. With great visibility and easy access off Highway 99, the 60,000+ cars daily also help to drive traffic to the location. Cool Hand Luke’s serves over 76,000 residents who reside within 5 miles.

Investment Highlights

  • Absolute NNN Lease (Zero Landlord Responsibility) with Personal Guarantee
  • Very Strong 2021 Store Sales and Low Rent/Sales Ratio (See Agent for More Info)
  • Franchisee Operates 36 Restaurants Across Three Different Brands
  • Located Blocks from Home Depot, Walmart, and Lowe's Home Improvement

Exclusively Listed By

Broker of Record

  • Jim Markel

    First Vice President/Regional Manager

    (818) 212-2700

    License(s) CA: 01253407

    California

Restaurant

Cool Hand Luke's Steakhouse

Listing Price: $3,395,000

Cap Rate
5.48%
Tenant Name
Cool Hand Luke's Steakhouse
Years Remaining On Lease
4.2
Gross SF
7,182
Guarantor
Personal Guarantee
Rentable SF
7,182
Price/Gross SF
$472.71
Lease Type
Absolute Net
Rent Per Square Feet
$25.90

Investment Highlights

  • Absolute NNN Lease (Zero Landlord Responsibility) with Personal Guarantee
  • Very Strong 2021 Store Sales and Low Rent/Sales Ratio (See Agent for More Info)
  • Franchisee Operates 36 Restaurants Across Three Different Brands
  • Located Blocks from Home Depot, Walmart, and Lowe's Home Improvement

Investment Overview

Marcus & Millichap is proud to offer for sale fee simple ownership of the Cool Hand Luke’s Steakhouse located off Highway 99 in Tulare, CA. The offering includes a favorable absolute NNN lease with zero landlord obligations. Cool Hand Luke’s has successfully operated at the location since 2016 and achieved a steady increase in sales year over year. Located off Cherry St, the site benefits from its proximity to the Tulare Outlets, the Monte Vista Shopping Center, as well as it’s adjacent location to the La Quinta Inn and the Casa Del Rey, an 83-unit apartment complex. With great visibility and easy access off Highway 99, the 60,000+ cars daily also help to drive traffic to the location. Cool Hand Luke’s serves over 76,000 residents who reside within 5 miles.

Exclusively Listed By

Broker of Record

  • Jim Markel

    First Vice President/Regional Manager

    (818) 212-2700

    License(s): CA: 01253407

    California

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