Skip to main content

Restaurant

Carl's Jr.

2776 E Washington Blvd, Los Angeles, CA 90023

Listing Price: $4,239,710

Cap Rate
3.50%
Tenant Name
Carl's Jr.
Years Remaining On Lease
9.8
Gross SF
2,871
Guarantor
Corporate Guarantee
Rentable SF
2,871
Price/Gross SF
$1,476.74
Lease Type
NNN Ground Lease
Rent Per Square Feet
$51.69

Investment Overview

The subject property is a single-tenant ground lease absolute-net leased to Carl Karcher Enterprises, Inc. It is situated at a hard signalized corner with direct frontage on Soto Street (42,877 average daily traffic counts) and Washington Boulevard (25,888 average daily traffic counts). This investment presents a rare opportunity to own a Los Angeles single-tenant asset. The Carl’s Jr. has a new 20-year lease with four, five-year renewal options. There are 10 percent rent increases every five years during the initial lease term. There are no landlord maintenance responsibilities under the lease. Carl Karcher Enterprises, Inc. and Hardee’s Food Systems, Inc. are wholly-owned subsidiaries of CKE Restaurants, Inc. CKE Restaurants, Inc. is a privately held company founded in 1941 and headquartered in Carpinteria, California. CKE, through its subsidiaries, has a total of 3,300 restaurant locations in 42 states and 28 countries. There are currently about 1,249 Carl’s Jr. and 1,899 Hardee’s restaurant locations. In July 2010, CKE Restaurants, Inc. was acquired by a private equity group. In 1941, Carl N. Karcher and his wife purchased a single hot dog stand in Los Angeles. In 1945, the Karchers moved to Anaheim and opened their first full-service restaurant, Carl’s Drive-In Barbeque. With more than 1,200 restaurants, Carl’s Jr. is regarded as the place to go for premium-quality burgers. In 2002, CKE Restaurants acquired Santa Barbara Restaurant Group which operated the Green Burrito brand. There are approximately 500 dual-branded Carl’s Jr. Green Burrito units, making Green Burrito the fourth largest Mexican fast food restaurant chain in the US by number of units. Carl’s Jr. Currently operates in 14 western states, Mexico, Russia, Malaysia, Singapore, Vietnam, Indonesia and China.

Investment Highlights

  • Hard signalized corner with direct frontage along South Soto Street (42,877 Daily Traffic Counts) and Washington Boulevard (25,888 Daily Traffic Counts)
  • Corporate Guarantee by Carl Karcher Enterprises Inc. (3,300 restaurants across 42 states and 28 countries)
  • Numerous Industrial Factories within a Mile Radius
  • Dense Infill Location in Population of 151,420 within 3 Miles Radius and 402,109 within 5 Miles Radius Daytime Populations
  • Strong Centralized Industrial Spot zoning
  • Household Income within 1 Mile Radius $78,472

Exclusively Listed By

Financing By

Listing Price: $4,239,710

Cap Rate
3.50%
Tenant Name
Carl's Jr.
Years Remaining On Lease
9.8
Gross SF
2,871
Guarantor
Corporate Guarantee
Rentable SF
2,871
Price/Gross SF
$1,476.74
Lease Type
NNN Ground Lease
Rent Per Square Feet
$51.69

Investment Highlights

  • Hard signalized corner with direct frontage along South Soto Street (42,877 Daily Traffic Counts) and Washington Boulevard (25,888 Daily Traffic Counts)
  • Corporate Guarantee by Carl Karcher Enterprises Inc. (3,300 restaurants across 42 states and 28 countries)
  • Numerous Industrial Factories within a Mile Radius
  • Dense Infill Location in Population of 151,420 within 3 Miles Radius and 402,109 within 5 Miles Radius Daytime Populations
  • Strong Centralized Industrial Spot zoning
  • Household Income within 1 Mile Radius $78,472

Investment Overview

The subject property is a single-tenant ground lease absolute-net leased to Carl Karcher Enterprises, Inc. It is situated at a hard signalized corner with direct frontage on Soto Street (42,877 average daily traffic counts) and Washington Boulevard (25,888 average daily traffic counts). This investment presents a rare opportunity to own a Los Angeles single-tenant asset. The Carl’s Jr. has a new 20-year lease with four, five-year renewal options. There are 10 percent rent increases every five years during the initial lease term. There are no landlord maintenance responsibilities under the lease. Carl Karcher Enterprises, Inc. and Hardee’s Food Systems, Inc. are wholly-owned subsidiaries of CKE Restaurants, Inc. CKE Restaurants, Inc. is a privately held company founded in 1941 and headquartered in Carpinteria, California. CKE, through its subsidiaries, has a total of 3,300 restaurant locations in 42 states and 28 countries. There are currently about 1,249 Carl’s Jr. and 1,899 Hardee’s restaurant locations. In July 2010, CKE Restaurants, Inc. was acquired by a private equity group. In 1941, Carl N. Karcher and his wife purchased a single hot dog stand in Los Angeles. In 1945, the Karchers moved to Anaheim and opened their first full-service restaurant, Carl’s Drive-In Barbeque. With more than 1,200 restaurants, Carl’s Jr. is regarded as the place to go for premium-quality burgers. In 2002, CKE Restaurants acquired Santa Barbara Restaurant Group which operated the Green Burrito brand. There are approximately 500 dual-branded Carl’s Jr. Green Burrito units, making Green Burrito the fourth largest Mexican fast food restaurant chain in the US by number of units. Carl’s Jr. Currently operates in 14 western states, Mexico, Russia, Malaysia, Singapore, Vietnam, Indonesia and China.

Exclusively Listed By

Financing By

MM Texture Background
MM Textured Background Lower