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306 Bancario Road - The Shops of Angelo''s Grove - Zaxby's, Marion, AR

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306 Bancario Road - The Shops of Angelo''s Grove - Zaxby's

Marion, AR 72364 - Crittenden County Ret Submarket

Property Type:Retail Sub Type:Fast Food Status:Existing Year Built:2006
Building Size:3,161 SF Land Area:1.02 AC (44,431 SF)
For Sale Price:$1,572,671 Price/SF:$497.52
Cap Rate:7.00 %
Parking:Free Surface spaces are available; Ratio of 12.65/1,000 SF
Features:Freeway Visibility, Signage, Drive Thru

Sale Notes:
Marcus and Millichap is pleased to offer for purchase a ±3,161 square foot, freestanding Zaxby' s, located at 306 Bancario Road, Crittenden County, Marion, AR. The subject property was constructed on an ±1.02 are parcel which was built and opened in 2006. Zaxby' s is strategically located approximately 1/8 of a mile west of Interstate 55. Marion is the county seat of Crittenden County, Arkansas. Located in the northeastern quadrant of the state, it is 11 miles west of downtown Memphis, Tennessee and approximately 130 miles east of Little Rock, Arkansas. Marion lies alongside Interstate 55, two miles north of its junction with Interstate 40. It is the second largest city in Crittenden County, behind West Memphis. Marion is both a northwest suburb of Memphis and part of the overall Memphis MSA.

This investment opportunity is accompanied by an absolute net-lease with an initial base term of ten (10) years. There are ±9 years remaining and two (2), 10-year option periods. The lease contains 10 percent scheduled rent escalations every five years throughout the base term of the lease and in each option period. This Zaxby' s location is operated by 1788 Chicken, LLC, an experienced multi-unit franchisee operator based in Austin, TX, who, in additional to operating 11+ Zaxby' s restaurants, operate more than 148+ Pizza Hut locations throughout the Western US region. The lease includes lease guarantees from both the operating entity, 1788 Chicken, LLC, which operates 11 Zaxby' s locations, as well as personal guarantees from the principal operators which shall remain in place throughout the base term.

Marcus & Millichap
Jared Kaye
(678) 808-2821

Cassidy Maxwell
(678) 808-2744

Daniel Molloy
(678) 808-2763

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