Investment Overview

Register to Bid and Access Due Diligence Documents on RealINSIGHT Marketplace - https://rimarketplace.com/auction/2690/ Marcus & Millichap, in conjunction with RI Marketplace, is pleased to present Carl’s Jr., a ±3,080 square-foot single-tenant retail asset located at 2053 Loop 11 in Wichita Falls, Texas. This offering features a long-term absolute NNN lease backed by OK Restaurant Holdings, LLC, a 38-unit Carl’s Jr. and Hardee’s franchisee led by a successful industry veteran. The lease has 11+ years remaining, with 10% rent increases every 5 years and four 5-year renewal options, creating predictable NOI growth. The tenant is responsible for all expenses, including taxes, insurance, and maintenance, making this a truly passive investment. Tenant has elected not to exercise the ROFR – Right of First Refusal. Carl's Jr. is an American fast-food restaurant chain owned by CKE Restaurant Holdings, Inc., who also owns Hardee's, with franchisees in North and South America, Asia, Oceania, Europe, and Africa. In 1997, CKE acquired Hardee's restaurants, expanding business by nearly 2,500 locations. As of October 2020, there are over 3,800 franchised or company-operated restaurants in 44 states and 43 countries. The property is strategically positioned on Loop 11 at the entrance to US Highway 287 (25,300 VPD) and just minutes from I-44 (31,400 VPD). It benefits from excellent visibility, strong co-tenancy, and proximity to major demand drivers including Sheppard Air Force Base, which supports a population of over 60,000 military and civilian personnel. Surrounding retailers include Walmart, Cracker Barrel, Denny’s, KFC, and T-Mobile, making this a proven retail corridor with strong daytime population and traffic.