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5150 Atlantic Avenue - Jack In The Box, Long Beach, CA

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5150 Atlantic Avenue - Jack In The Box

Long Beach, CA 90805-6510 - Mid-Cities Submarket

Property Type:Retail Sub Type:Fast Food Status:Existing Year Built:2004
Building Size:2,631 SF Land Area:.65 AC (28,471 SF)
For Sale Price:$1,753,000 Price/SF:$666.29
Cap Rate:-

Sale Notes:
* Long-Term Lease 8 years remaining on current 20 year ground lease. Absolute NNN ground lease with fixed 15% rental increases every 5 years, and 4, 10-year options to renew at fair market rates

* Below Market Rent Jack in the Box is currently paying $75,383 annually ($2.39 PSF/MN), well below the estimated market rate of $126,288 annually ($4.00 PSF/MN). The NOI is projected to grow over $54,000 (nearly 75%) after the current term expires in 8 years and rent is adjusted to a new market rate

* Corporate Absolute NNN Lease Single tenant, absolute NNN ground lease Tenant pays 100% of repairs and maintenance, property taxes and insurance, making this property perfect for passive coupon clipper investors

* Drive-Thru Use Internet resistant tenancy such as fast food restaurants like Jack In The Box generate traffic and customer trips, impermeable to the threat of internet competition
* Located in Long Beach, CA

Phil D Voorhees
(949) 725-8521

Kirk Brummer
(949) 725-8418

John Read
(949) 725-8606

James Slusher
(949) 725-8507

Megan Wood
(949) 725-8423

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