Restaurant

Hardee's

2102 N Frontage Rd, Meridian, MS 39301

Listing Price: $1,514,000

Cap Rate
5.90%
Tenant Name
Hardees
Years Remaining On Lease
13.90
Guarantor
Corporate Guarantee
Rentable SF
2,482
Lease Type
Ground Lease
Rent Per Square Feet
$35.96

Investment Overview

Marcus & Millichap, as exclusive agent to the seller, is pleased to present the opportunity to purchase a corporate Hardee's ground lease located at 2102 North Frontage Road in Meridian, Mississippi. Hardee's has operated in this shopping center for over 45 years in an inferior location. In 2014, they relocated to the subject site and signed a new 20-year ground lease. The lease includes four five-year options to renew with fixed increases in base rent. The rent structure in the lease is comprised of base rent and percentage rent. During the initial term of the lease, the base rent is set at $70,000 per year and percentage rent is 6 percent of gross sales in excess of base rent. In 2019, percentage rent was $19,258.

Investment Highlights

  • Corporate Hardee's Ground Lease With No Landlord Responsibilities
  • 14 Years Remain on Original 20-Year Lease
  • Relocation Store with 45-Year operating history in the shopping center

Exclusively Listed By

Broker of Record

  • Mickey Davis

    Associate

    License(s): MS: 15586

    Mississippi

Listing Price: $1,514,000

Cap Rate
5.90%
Tenant Name
Hardees
Years Remaining On Lease
13.90
Guarantor
Corporate Guarantee
Rentable SF
2,482
Lease Type
Ground Lease
Rent Per Square Feet
$35.96

Investment Highlights

  • Corporate Hardee's Ground Lease With No Landlord Responsibilities
  • 14 Years Remain on Original 20-Year Lease
  • Relocation Store with 45-Year operating history in the shopping center

Investment Overview

Marcus & Millichap, as exclusive agent to the seller, is pleased to present the opportunity to purchase a corporate Hardee's ground lease located at 2102 North Frontage Road in Meridian, Mississippi. Hardee's has operated in this shopping center for over 45 years in an inferior location. In 2014, they relocated to the subject site and signed a new 20-year ground lease. The lease includes four five-year options to renew with fixed increases in base rent. The rent structure in the lease is comprised of base rent and percentage rent. During the initial term of the lease, the base rent is set at $70,000 per year and percentage rent is 6 percent of gross sales in excess of base rent. In 2019, percentage rent was $19,258.

Exclusively Listed By

Broker of Record

  • Mickey Davis

    Associate

    License(s): MS: 15586

    Mississippi

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