Restaurant

Denny's

3901 US-41, Evansville, IN 47711

Listing Price: $1,153,000

Cap Rate
6.50%
Tenant Name
Denny's
Years Remaining On Lease
7.2
Gross SF
5,450
Guarantor
Corporate Guarantee
Rentable SF
5,450
Price/Gross SF
$211.56
Lease Type
Absolute Net
Rent Per Square Feet
$13.76

Investment Overview

Marcus & Millichap is pleased to present the Dennys located in Evansville, Indiana.

The 5,450 square foot building was renovated for Dennys into its current build in 2009. The restaurant lies right off Highway 41 in Evansville, Indiana. As a major highway running through the middle of Evansville, it provides ample daily traffic, over 35,000 vehicles per day. The restaurant benefits from a populous community with over 134,000 people within 5 miles and an average household income of $61,860 within 5 miles. Sitting adjacent to a Comfort Inn & Suites, Dennys also profits from travelers staying in the hotel by providing an easy meal to those tired from a long day traveling. In this way, the restaurant serves both local and out of town patrons. The property is surrounded by traffic drivers including a TJ Maxx distribution center, Southern Indiana Technical Center, and also lies less than four miles from the Evansville Regional Airport and University of Evansville (2,300 students).

In 2009, Dennys signed a 20-year lease at the site, leaving 7.5+ years to take advantage of rent payments on the original lease. With 11 years of operating history, theyve shown strong commitment to the current site. The tenant is responsible for all expenses associated with the property, making it a strong hands-off investment for a potential buyer. The operator of the site, Top Line Restaurants, Inc., has been a very strong franchisee since 2004, currently operating at least 20 locations (Top Line purchased the operations of 20 Dennys locations in January of 2020, including in the subject property). The owner of the franchise also sits on the board of Dennys Franchisee Association and has been with Dennys since 1990, showing strong commitment to the brand.

Dennys profits from its attachment to the hotel through its business plan of selling breakfast, lunch and dinner around the clock. The restaurant is primed to take care of hungry travelers and local residents at all times of the day. The Dennys brand operates over 1,700 restaurants across the world and is recognizable throughout America. The restaurant is well positioned to take advantage of the economic rebound in the wake of the COVID-19 crisis.

Investment Highlights

  • Absolute Net Lease with Zero Landlord Responsibility
  • Dense Population Area with more than 134,000 People within 5 Miles of the Site
  • 11-Year Operating History at this Location| Successful & Expanding Franchisee
  • Original 20-Year Lease with 7.5 Years Remaining on the Base Lease Term
  • Ideally Positioned off Highway 41| High Traffic Counts 35,000+ VPD
  • Located Adjacent to a Comfort Inn & Suites Hotel | Provides Consistent Traffic

Exclusively Listed By

Listing Price: $1,153,000

Cap Rate
6.50%
Tenant Name
Denny's
Years Remaining On Lease
7.2
Gross SF
5,450
Guarantor
Corporate Guarantee
Rentable SF
5,450
Price/Gross SF
$211.56
Lease Type
Absolute Net
Rent Per Square Feet
$13.76

Investment Highlights

  • Absolute Net Lease with Zero Landlord Responsibility
  • Dense Population Area with more than 134,000 People within 5 Miles of the Site
  • 11-Year Operating History at this Location| Successful & Expanding Franchisee
  • Original 20-Year Lease with 7.5 Years Remaining on the Base Lease Term
  • Ideally Positioned off Highway 41| High Traffic Counts 35,000+ VPD
  • Located Adjacent to a Comfort Inn & Suites Hotel | Provides Consistent Traffic

Investment Overview

Marcus & Millichap is pleased to present the Dennys located in Evansville, Indiana.

The 5,450 square foot building was renovated for Dennys into its current build in 2009. The restaurant lies right off Highway 41 in Evansville, Indiana. As a major highway running through the middle of Evansville, it provides ample daily traffic, over 35,000 vehicles per day. The restaurant benefits from a populous community with over 134,000 people within 5 miles and an average household income of $61,860 within 5 miles. Sitting adjacent to a Comfort Inn & Suites, Dennys also profits from travelers staying in the hotel by providing an easy meal to those tired from a long day traveling. In this way, the restaurant serves both local and out of town patrons. The property is surrounded by traffic drivers including a TJ Maxx distribution center, Southern Indiana Technical Center, and also lies less than four miles from the Evansville Regional Airport and University of Evansville (2,300 students).

In 2009, Dennys signed a 20-year lease at the site, leaving 7.5+ years to take advantage of rent payments on the original lease. With 11 years of operating history, theyve shown strong commitment to the current site. The tenant is responsible for all expenses associated with the property, making it a strong hands-off investment for a potential buyer. The operator of the site, Top Line Restaurants, Inc., has been a very strong franchisee since 2004, currently operating at least 20 locations (Top Line purchased the operations of 20 Dennys locations in January of 2020, including in the subject property). The owner of the franchise also sits on the board of Dennys Franchisee Association and has been with Dennys since 1990, showing strong commitment to the brand.

Dennys profits from its attachment to the hotel through its business plan of selling breakfast, lunch and dinner around the clock. The restaurant is primed to take care of hungry travelers and local residents at all times of the day. The Dennys brand operates over 1,700 restaurants across the world and is recognizable throughout America. The restaurant is well positioned to take advantage of the economic rebound in the wake of the COVID-19 crisis.

Exclusively Listed By

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