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Restaurant

Hardee's (Corporate)

1580 Fort Campbell Blvd, Clarksville, TN 37042

Listing Price: $1,360,000

Cap Rate
5.50%
Tenant Name
Hardee's Restaurants, LLC
Years Remaining On Lease
6.6
Guarantor
Corporate Guarantee
Rentable SF
3,663
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$20.36

Investment Overview

STRONG REAL ESTATE FUNDAMENTALS - Fundamentally located on an outparcel to a retail shopping center - Flat topography with phenomenal visibility along Fort Campbell Blvd. - Drive-thru equipped restaurant to facilitate maximum safety during health crisis - Direct access to a traffic light via inter-parcel access - Multiple points of ingress/egress - High-traffic corridor with ±31,225 VPD along Fort Campbell Blvd. - Dense surrounding population: ±9k (1-mile), ±49k (3-mile), ±102k (5-mile) - High growth market since 2000: 10.5% (1-mile), 25.24% (3-mile), 47.25% (5-mile) - Projected population growth from 2020 – 2025: 1.76% (1-mile), 8.92% (3-mile), 10.6% (5-mile) - Strategically located close to the Hardee’s corporate HQ in Franklin, TN OPTIMAL LEASE STRUCTURE - Rare corporately guaranteed lease - ±7 years remaining on base term - Four (4), 5-year renewal options - Absolute NNN lease with no landlord responsibilities - Tenant executed early lease extension in 2015 (7 years early) - 12% rent bump in less than 2 years (January 1, 2023) - Successful 46+ year operating history at this location - Low rent of $20.36/SF - Attractive sales reporting provision › Above average unit sales with very healthy rent:sales below 6% CATEGORY-LEADING TENANT - Hardee’s has 60+ year operating history - 1,800+ locations across the US and locations in 14 other countries - #24 ranked largest QSR chain in America (QSR Magazine, 2020) - “Burger joints remain the most popular fast food option among consumers – 14 of the 50 chains on the ’50 Most Popular Fast Food Chains in America’ are classified as burger restaurants, with $80 billion in collective sales.” (Visual Capitalist, 2019) - 2019 US Sales of $2.07 billion CLARKSVILLE, TN ADVANTAGE - Pro-business location in Tennessee (no-state income tax) - 5th largest city in the state with ±160k people - Home to Austin Peay State University (10k+ students) and Fort Campbell, a US Army installation - Fort Campbell supports 58,000 jobs and has an annual economic impact of over $10 billion per Center for Economic Research in Tennessee (2019) - Other large employers in Clarksville: › Clarksville-Montgomery County School System: 4,000 employees › Tennova Healthcare: 1,150 employees › Trane Company: 1,100 employees (HVAC equipment) › Austin Peay State University: 860 employees

Investment Highlights

  • Fundamentally located on an outparcel to a retail shopping center
  • Direct access to a traffic light via inter-parcel access
  • Rare corporately guaranteed lease
  • Absolute NNN lease with no landlord responsibilities
  • Four (4), 5-year renewal options
  • Low rent of $20.36/SF

Exclusively Listed By

Broker of Record

  • Jody McKibben

    Vice President / Regional Manager

    License(s): TN: 307629

    Tennessee

Listing Price: $1,360,000

Cap Rate
5.50%
Tenant Name
Hardee's Restaurants, LLC
Years Remaining On Lease
6.6
Guarantor
Corporate Guarantee
Rentable SF
3,663
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$20.36

Investment Highlights

  • Fundamentally located on an outparcel to a retail shopping center
  • Direct access to a traffic light via inter-parcel access
  • Rare corporately guaranteed lease
  • Absolute NNN lease with no landlord responsibilities
  • Four (4), 5-year renewal options
  • Low rent of $20.36/SF

Investment Overview

STRONG REAL ESTATE FUNDAMENTALS - Fundamentally located on an outparcel to a retail shopping center - Flat topography with phenomenal visibility along Fort Campbell Blvd. - Drive-thru equipped restaurant to facilitate maximum safety during health crisis - Direct access to a traffic light via inter-parcel access - Multiple points of ingress/egress - High-traffic corridor with ±31,225 VPD along Fort Campbell Blvd. - Dense surrounding population: ±9k (1-mile), ±49k (3-mile), ±102k (5-mile) - High growth market since 2000: 10.5% (1-mile), 25.24% (3-mile), 47.25% (5-mile) - Projected population growth from 2020 – 2025: 1.76% (1-mile), 8.92% (3-mile), 10.6% (5-mile) - Strategically located close to the Hardee’s corporate HQ in Franklin, TN OPTIMAL LEASE STRUCTURE - Rare corporately guaranteed lease - ±7 years remaining on base term - Four (4), 5-year renewal options - Absolute NNN lease with no landlord responsibilities - Tenant executed early lease extension in 2015 (7 years early) - 12% rent bump in less than 2 years (January 1, 2023) - Successful 46+ year operating history at this location - Low rent of $20.36/SF - Attractive sales reporting provision › Above average unit sales with very healthy rent:sales below 6% CATEGORY-LEADING TENANT - Hardee’s has 60+ year operating history - 1,800+ locations across the US and locations in 14 other countries - #24 ranked largest QSR chain in America (QSR Magazine, 2020) - “Burger joints remain the most popular fast food option among consumers – 14 of the 50 chains on the ’50 Most Popular Fast Food Chains in America’ are classified as burger restaurants, with $80 billion in collective sales.” (Visual Capitalist, 2019) - 2019 US Sales of $2.07 billion CLARKSVILLE, TN ADVANTAGE - Pro-business location in Tennessee (no-state income tax) - 5th largest city in the state with ±160k people - Home to Austin Peay State University (10k+ students) and Fort Campbell, a US Army installation - Fort Campbell supports 58,000 jobs and has an annual economic impact of over $10 billion per Center for Economic Research in Tennessee (2019) - Other large employers in Clarksville: › Clarksville-Montgomery County School System: 4,000 employees › Tennova Healthcare: 1,150 employees › Trane Company: 1,100 employees (HVAC equipment) › Austin Peay State University: 860 employees

Exclusively Listed By

Broker of Record

  • Jody McKibben

    Vice President / Regional Manager

    License(s): TN: 307629

    Tennessee

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