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Restaurant

Checkers | Corporate Store Portfolio

2300 St Stephens Rd, Mobile, AL 36617

Listing Price: $4,833,326

Cap Rate
4.50%
Tenant Name
Checkers
Years Remaining On Lease
14.3
Guarantor
Corporate Guarantee
Rentable SF
736
Lease Type
Absolute Net
Rent Per Square Feet
$285.23

Investment Overview

Marcus & Millichap is pleased to present for sale this Corporate Guaranteed Checkers Drive Thru Restaurant Portfolio with a total of six properties positioned across Alabama and Florida. This Checkers Portfolio has locations in Orlando, West Palm Beach, and Gainesville, Florida, and three located in Mobile, AL. Checkers is considered an essential tenant with sales thriving throughout the pandemic due to its drive-thru concept. The original Absolute NNN lease is set to expire in 2035, thus providing approximately 14.4 years remaining on the initial term with two five-year renewal options. The subject property has displayed strong performance throughout its history, as a result Checkers Corporate will execute an Absolute NNN Lease.

Investment Highlights

  • Absolute NNN Lease - Zero Landlord Responsibilities
  • Checkers Restaurant Drive In With Corporate Lease
  • 10% Annual Rent Escalations Each Five - Year Period

Broker of Record

  • Eddie Greenhalgh

    First Vice President Investments

    (205) 510-9200

    License(s) AL: 0000882980

    Alabama

Financing By

Restaurant

Checkers | Corporate Store Portfolio

Listing Price: $4,833,326

Cap Rate
4.50%
Tenant Name
Checkers
Years Remaining On Lease
14.3
Guarantor
Corporate Guarantee
Rentable SF
736
Lease Type
Absolute Net
Rent Per Square Feet
$285.23

Investment Highlights

  • Absolute NNN Lease - Zero Landlord Responsibilities
  • Checkers Restaurant Drive In With Corporate Lease
  • 10% Annual Rent Escalations Each Five - Year Period

Investment Overview

Marcus & Millichap is pleased to present for sale this Corporate Guaranteed Checkers Drive Thru Restaurant Portfolio with a total of six properties positioned across Alabama and Florida. This Checkers Portfolio has locations in Orlando, West Palm Beach, and Gainesville, Florida, and three located in Mobile, AL. Checkers is considered an essential tenant with sales thriving throughout the pandemic due to its drive-thru concept. The original Absolute NNN lease is set to expire in 2035, thus providing approximately 14.4 years remaining on the initial term with two five-year renewal options. The subject property has displayed strong performance throughout its history, as a result Checkers Corporate will execute an Absolute NNN Lease.

Broker of Record

  • Eddie Greenhalgh

    First Vice President Investments

    (205) 510-9200

    License(s): AL: 0000882980

    Alabama

Financing By

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