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Restaurant

Ida Claire

10209 Rivercoast Dr, Jacksonville, FL 32246

Listing Price: $5,217,391

Cap Rate
5.75%
Tenant Name
Corporate
Years Remaining On Lease
20.0
Gross SF
6,735
Guarantor
Corporate Guarantee
Rentable SF
6,735
Price/Gross SF
$774.67
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$44.54

Investment Overview

Marcus & Millichap is pleased to present the exclusive offer for a subject Ida Claire; an investment opportunity in the economic powerhouse of Northeastern Florida within Duval County, and more particularly located at 1209 River Coast Drive in Jacksonville, FL. Renovated in 2019, the subject investment consists of a +/- 1.23-acre parcel situated as an outparcel to St Johns Town Center, the premier shopping and dining destination in North Florida. The subject property is located to the north of State Route 202 and to the west of Interstate-295. To the north: Hyatt Place and Fogo de Chao Brazilian Steakhouse; To the east: Wells Fargo Bank; To the west: Bahama Breeze; To the south: St Johns Town Center more particularly Dillards. Jacksonville, the most populous city in Florida and the largest city by area in the contiguous United States, is the principal city within the Jacksonville metropolitan statistical area.

The investment opportunity is subject to a brand new 20-year, triple net (NNN) sale-leaseback with Ida Claire Jacksonville, LLC (Tenant). The lease will commence upon close of escrow and will be subject to three (3), five (5)-year tenant renewal options, bringing the total possible lease term to 35 years. The initial rent will be $300,000 and will increase by ten percent (10.0%) every five (5) years. The lease will be corporately guaranteed by Whiskey Cake Holdings, LLC; the parent company behind Whiskey Cake (9), Sixty Vines (4), Ida Claire (3) and Mexican Sugar (2); four of the operators multiple thriving brands that identify as polished casual concepts.

Investment Highlights

  • Brand New 20 Year Sale Leaseback
  • Absolute Triple Net ( NNN ) Lease with Zero Landlord Responsibilities
  • Attractive Rent Increases: 10.0% Every Five (5) Years
  • Three (3), Five (5) Year Tenant Renewal Options
  • Exceptional, Proven Operator | Corporate Guarantee
  • E Commerce Resistant Investment Opportunity

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

Broker of Record

  • Ryan Nee

    First Vice President / District Manager

    (954) 245-3400

    License(s) FL: BK3154667

    Florida

Listing Price: $5,217,391

Cap Rate
5.75%
Tenant Name
Corporate
Years Remaining On Lease
20.0
Gross SF
6,735
Guarantor
Corporate Guarantee
Rentable SF
6,735
Price/Gross SF
$774.67
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$44.54

Investment Highlights

  • Brand New 20 Year Sale Leaseback
  • Absolute Triple Net ( NNN ) Lease with Zero Landlord Responsibilities
  • Attractive Rent Increases: 10.0% Every Five (5) Years
  • Three (3), Five (5) Year Tenant Renewal Options
  • Exceptional, Proven Operator | Corporate Guarantee
  • E Commerce Resistant Investment Opportunity

Investment Overview

Marcus & Millichap is pleased to present the exclusive offer for a subject Ida Claire; an investment opportunity in the economic powerhouse of Northeastern Florida within Duval County, and more particularly located at 1209 River Coast Drive in Jacksonville, FL. Renovated in 2019, the subject investment consists of a +/- 1.23-acre parcel situated as an outparcel to St Johns Town Center, the premier shopping and dining destination in North Florida. The subject property is located to the north of State Route 202 and to the west of Interstate-295. To the north: Hyatt Place and Fogo de Chao Brazilian Steakhouse; To the east: Wells Fargo Bank; To the west: Bahama Breeze; To the south: St Johns Town Center more particularly Dillards. Jacksonville, the most populous city in Florida and the largest city by area in the contiguous United States, is the principal city within the Jacksonville metropolitan statistical area.

The investment opportunity is subject to a brand new 20-year, triple net (NNN) sale-leaseback with Ida Claire Jacksonville, LLC (Tenant). The lease will commence upon close of escrow and will be subject to three (3), five (5)-year tenant renewal options, bringing the total possible lease term to 35 years. The initial rent will be $300,000 and will increase by ten percent (10.0%) every five (5) years. The lease will be corporately guaranteed by Whiskey Cake Holdings, LLC; the parent company behind Whiskey Cake (9), Sixty Vines (4), Ida Claire (3) and Mexican Sugar (2); four of the operators multiple thriving brands that identify as polished casual concepts.

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

Broker of Record

  • Ryan Nee

    First Vice President / District Manager

    (954) 245-3400

    License(s): FL: BK3154667

    Florida

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