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Restaurant

Dick's Wings & Grill - Absolute NNN Long Term Lease

6055 Youngerman Cir, Jacksonville, FL 32244

Listing Price: $2,580,000

Cap Rate
5.00%
Tenant Name
SEEDIV, LLC dba Dick's Wings and Grill
Years Remaining On Lease
16.8
Gross SF
6,867
Guarantor
Corporate Guarantee
Rentable SF
6,500
Price/Gross SF
$375.71
Lease Type
Absolute Net
Rent Per Square Feet
$19.85

Investment Overview

Marcus & Millichap is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, Dick’s Wings and Grill investment property located in Jacksonville, Florida. The tenant has 17 years remaining in their initial lease term. The lease features 7.5% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The subject property is located along Youngerman Circle with traffic counts of over 21,000 VPD. The site is near the signalized, hard corner intersection of State Highway 21 and Interstate 295 Belt Loop with a combined 172,000 VPD. The site is equipped with a large monument sign, providing increased visibility. In addition, the property is directly across the street from Argyle Village (306,500+ SF) with national anchor tenants. The 5-mile demographics report a population of over 155,000 residents with an average household income of $71,700.

Investment Highlights

  • 17 Years Remaining on a Corporate Guaranteed Absolute NNN lease. Zero Landlord Responsibilities. Tenant pays for CAM, taxes, Insurance and maintains all aspects of premises.
  • The Absolute NNN Lease has Scheduled Rental Increases and 2 (5 -Year) Options to Extend.
  • Property is located directly across a shopping center with national anchor tenants including: Bed Bath & Beyond, Publix, Jo- Ann, TJ Maxx and Michaels.
  • Strong Local Demographics. More than 159,000 residents in a 5 Mile Radius. $72,700 Average HH Income.

Exclusively Listed By

Broker of Record

  • Ryan Nee

    First Vice President / District Manager

    (954) 245-3400

    License(s) FL: BK3154667

    Florida

Financing By

Restaurant

Dick's Wings & Grill - Absolute NNN Long Term Lease

Listing Price: $2,580,000

Cap Rate
5.00%
Tenant Name
SEEDIV, LLC dba Dick's Wings and Grill
Years Remaining On Lease
16.8
Gross SF
6,867
Guarantor
Corporate Guarantee
Rentable SF
6,500
Price/Gross SF
$375.71
Lease Type
Absolute Net
Rent Per Square Feet
$19.85

Investment Highlights

  • 17 Years Remaining on a Corporate Guaranteed Absolute NNN lease. Zero Landlord Responsibilities. Tenant pays for CAM, taxes, Insurance and maintains all aspects of premises.
  • The Absolute NNN Lease has Scheduled Rental Increases and 2 (5 -Year) Options to Extend.
  • Property is located directly across a shopping center with national anchor tenants including: Bed Bath & Beyond, Publix, Jo- Ann, TJ Maxx and Michaels.
  • Strong Local Demographics. More than 159,000 residents in a 5 Mile Radius. $72,700 Average HH Income.

Investment Overview

Marcus & Millichap is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, Dick’s Wings and Grill investment property located in Jacksonville, Florida. The tenant has 17 years remaining in their initial lease term. The lease features 7.5% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The subject property is located along Youngerman Circle with traffic counts of over 21,000 VPD. The site is near the signalized, hard corner intersection of State Highway 21 and Interstate 295 Belt Loop with a combined 172,000 VPD. The site is equipped with a large monument sign, providing increased visibility. In addition, the property is directly across the street from Argyle Village (306,500+ SF) with national anchor tenants. The 5-mile demographics report a population of over 155,000 residents with an average household income of $71,700.

Exclusively Listed By

Broker of Record

  • Ryan Nee

    First Vice President / District Manager

    (954) 245-3400

    License(s): FL: BK3154667

    Florida

Financing By

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