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Restaurant

Jim 'N Nick's Community Bar-B-Q Ground Lease

NW Corner of Davis Highway & Creighton Road, Pensacola, FL 32504

Listing Price: $4,260,870

Cap Rate
5.75%
Tenant Name
Jim 'N Nick's
Years Remaining On Lease
15.2
Guarantor
Corporate Guarantee
Rentable SF
6,296
Lease Type
NNN Ground Lease
Rent Per Square Feet
$38.91

Investment Overview

* Brand new 15-year Corporately Guaranteed Jim ‘N Nick’s Ground Lease located in Pensacola, FL
* Jim ‘N Nick’s will invest nearly $3M of their own capital into the improvements and FF&E- Property will consist of 6,296 total SF which includes a 1,344 SF patio, full bar, and double-drive thru
* Jim ‘N Nick’s Community Bar-B-Q was established in 1985 out of Birmingham, AL and currently has 47 restaurants throughout Alabama, Georgia, South Carolina, Florida, North Carolina, and Tennessee -
company is aggressively expanding with more stores currently under construction
* 10% rental increases every five years
* Signalized, hard corner location and an outparcel to BJ’s, Academy Sports, Burlington, and JCPenney center that has over 3.74M annual visitors (per Placer.ai)
* High traffic location- over 60,000 cars/day at the signalized intersection less than a mile off Interstate 110 that has over 81,000 cars/day
* Incredibly dense retail corridor- Near Cordova Mall (Dick’s/Best Buy/Belk- 6.7M annual visits) Tradewinds Shopping Center (HomeGoods/T-J-Maxx- 1.6M annual visits), Village Oaks
(PetSmart/Bealls/Planet Fitness- 1.4M annual visits), Pensacola Square (Hobby Lobby/BigLots!/American Freight- 1.35M annual visits), Home Depot, Lowe’s, Sam’s Club, Target, Texas Roadhouse, Cheddar’s, and
over 12 hotels (all within approx. 1-mile)
* Located near the Pensacola International Airport (over 2.4M passengers in 2022), Pensacola State College (6,750 students), and Pensacola Christian College (4,700 students)
* Strong tourist destination area- in 2022 Pensacola had over 2.5M visitors creating an economic impact of approximately $2 Billion, with $1.3 Billion coming from direct spending by tourists- tourism supported
over 22K jobs in the local economy and generated over $630M in salaries/wages
* Pensacola has recently been ranked in the Forbes Top 100 cities for cost of doing business (5.8% lower than the U.S. average)
* Top employers in the Pensacola region include: Navy Federal Credit Union (8,700), Baptist Health Care (5,400) Sacred Heart Health (4,800), and University of West Florida (2,400)
* Densely populated area- over 140,000 residents within a 5-mile radius
* Adjacent to a high performing Texas Roadhouse, Cheddar's and Bubba’s 33 Ground Lease (Texas Roadhouse concept)- one of the top Bubba’s 33 in the chain (40+ locations)- also for sale (contact broker for details)

Investment Highlights

  • Brand new 15-year Corporately Guaranteed Jim 'N Nick's Ground Lease located in Pensacola, FL
  • Jim 'N Nick's will invest nearly $3M of their own capital into the improvements and FF&E- Property will consist of 6,296 total SF which includes a 1,344 SF patio, full bar, and double-drive thru
  • Jim 'N Nick's Community Bar-B-Q was established in 1985 out of Birmingham, AL and currently has 47 restaurants throughout Alabama, Georgia, South Carolina, Florida, North Carolina, and Tennessee

Exclusively Listed By

Broker of Record

  • Ryan Nee

    Senior Vice President/ Division Manager

    (954) 245-3400

    License(s) FL: BK3154667

    Florida

Financing By

Restaurant

Jim 'N Nick's Community Bar-B-Q Ground Lease

Listing Price: $4,260,870

Cap Rate
5.75%
Tenant Name
Jim 'N Nick's
Years Remaining On Lease
15.2
Guarantor
Corporate Guarantee
Rentable SF
6,296
Lease Type
NNN Ground Lease
Rent Per Square Feet
$38.91

Investment Highlights

  • Brand new 15-year Corporately Guaranteed Jim 'N Nick's Ground Lease located in Pensacola, FL
  • Jim 'N Nick's will invest nearly $3M of their own capital into the improvements and FF&E- Property will consist of 6,296 total SF which includes a 1,344 SF patio, full bar, and double-drive thru
  • Jim 'N Nick's Community Bar-B-Q was established in 1985 out of Birmingham, AL and currently has 47 restaurants throughout Alabama, Georgia, South Carolina, Florida, North Carolina, and Tennessee

Investment Overview

* Brand new 15-year Corporately Guaranteed Jim ‘N Nick’s Ground Lease located in Pensacola, FL * Jim ‘N Nick’s will invest nearly $3M of their own capital into the improvements and FF&E- Property will consist of 6,296 total SF which includes a 1,344 SF patio, full bar, and double-drive thru * Jim ‘N Nick’s Community Bar-B-Q was established in 1985 out of Birmingham, AL and currently has 47 restaurants throughout Alabama, Georgia, South Carolina, Florida, North Carolina, and Tennessee - company is aggressively expanding with more stores currently under construction * 10% rental increases every five years * Signalized, hard corner location and an outparcel to BJ’s, Academy Sports, Burlington, and JCPenney center that has over 3.74M annual visitors (per Placer.ai) * High traffic location- over 60,000 cars/day at the signalized intersection less than a mile off Interstate 110 that has over 81,000 cars/day * Incredibly dense retail corridor- Near Cordova Mall (Dick’s/Best Buy/Belk- 6.7M annual visits) Tradewinds Shopping Center (HomeGoods/T-J-Maxx- 1.6M annual visits), Village Oaks (PetSmart/Bealls/Planet Fitness- 1.4M annual visits), Pensacola Square (Hobby Lobby/BigLots!/American Freight- 1.35M annual visits), Home Depot, Lowe’s, Sam’s Club, Target, Texas Roadhouse, Cheddar’s, and over 12 hotels (all within approx. 1-mile) * Located near the Pensacola International Airport (over 2.4M passengers in 2022), Pensacola State College (6,750 students), and Pensacola Christian College (4,700 students) * Strong tourist destination area- in 2022 Pensacola had over 2.5M visitors creating an economic impact of approximately $2 Billion, with $1.3 Billion coming from direct spending by tourists- tourism supported over 22K jobs in the local economy and generated over $630M in salaries/wages * Pensacola has recently been ranked in the Forbes Top 100 cities for cost of doing business (5.8% lower than the U.S. average) * Top employers in the Pensacola region include: Navy Federal Credit Union (8,700), Baptist Health Care (5,400) Sacred Heart Health (4,800), and University of West Florida (2,400) * Densely populated area- over 140,000 residents within a 5-mile radius * Adjacent to a high performing Texas Roadhouse, Cheddar's and Bubba’s 33 Ground Lease (Texas Roadhouse concept)- one of the top Bubba’s 33 in the chain (40+ locations)- also for sale (contact broker for details)

Exclusively Listed By

Broker of Record

  • Ryan Nee

    Senior Vice President/ Division Manager

    (954) 245-3400

    License(s): FL: BK3154667

    Florida

Financing By

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