Restaurant
Jack's Family Restaurant (Corp. - 15 Yrs Remain)
514 6th Ave NE, Decatur, AL 35601
Listing Price: $2,819,000
Investment Overview
Marcus & Millichap is proud to offer for sale the Jack’s Family Restaurant located in Decatur, Alabama at 514 6th Avenue Northeast. The site operates under an Absolute Triple Net (tenant is responsible for any any all repairs and maintenance) lease that is corporate guaranteed by Jack’s Family Restaurants, Inc. which is headquartered in Birmingham, Alabama. The 20-year lease was originally signed in 2017 and currently is set to expire in approximately 15 years or on December 31st, 2037. The lease includes 10% rent bumps every five years throughout the lease and the option periods. The drive-thru property was built in 2010 and the building is 3,422 square feet and sits on a 1.41 acre parcel of land. This site is ideally located along 6th Ave NE which is the main thoroughfare through downtown Decatur. The Morgan County Courthouse, Decatur Public Library, and Decatur City Municipal Court are all located only a few blocks from the subject property.
Jack's Family Restaurant (Corp. - 15 Yrs Remain)
Investment Highlights
- Absolute NNN Lease that is Corporate Guaranteed by Jack's Family Restaurants
- Approximately 15 Years Remaining of Lease Term with 10% Rent Bumps Every 5 Years
- Jack's Family Restaurants Operates 231 Restaurants in the Southeast (Alabama, Tennessee, Mississippi, and Georgia)
Broker of Record
Listing Price: $2,819,000
Investment Highlights
- Absolute NNN Lease that is Corporate Guaranteed by Jack's Family Restaurants
- Approximately 15 Years Remaining of Lease Term with 10% Rent Bumps Every 5 Years
- Jack's Family Restaurants Operates 231 Restaurants in the Southeast (Alabama, Tennessee, Mississippi, and Georgia)
Investment Overview
Marcus & Millichap is proud to offer for sale the Jack’s Family Restaurant located in Decatur, Alabama at 514 6th Avenue Northeast. The site operates under an Absolute Triple Net (tenant is responsible for any any all repairs and maintenance) lease that is corporate guaranteed by Jack’s Family Restaurants, Inc. which is headquartered in Birmingham, Alabama. The 20-year lease was originally signed in 2017 and currently is set to expire in approximately 15 years or on December 31st, 2037. The lease includes 10% rent bumps every five years throughout the lease and the option periods. The drive-thru property was built in 2010 and the building is 3,422 square feet and sits on a 1.41 acre parcel of land. This site is ideally located along 6th Ave NE which is the main thoroughfare through downtown Decatur. The Morgan County Courthouse, Decatur Public Library, and Decatur City Municipal Court are all located only a few blocks from the subject property.
Broker of Record
-
Eddie Greenhalgh
Senior Vice President Investments
