10602 Ih 37 - Restaurant FOR SALE


Corpus Christi, TX 78410- Northwest Corpus Christi
$1,705,000 USD
650-279-5790
10602 Ih 37, Corpus Christi, TX for Sale
$1,705,000 USD
Restaurant - FOR SALE
1/2
null | 7.59% Cap Rate

10602 Ih 37
Corpus Christi, TX 78410
Northwest Corpus Christi


HIGHLIGHTS

  • Absolute NNN Lease
  • CPI rent increases every 5 years not to exceed 8.0%
  • Highly visible from Interstate 37
  • Situated at a freeway off/on ramp
  • Property equipped with a 65' monumental sign
  • Call listing brokers for more information

OVERVIEW

Jack in the Box constructed this restaurant in 2008 and then executed a 20-year corporate sale leaseback that is absolute NNN with CPI rent increases every 5 years not to exceed 8.0%. The initial 20-year lease expires on 6/15/2028. Tenant has 4-five-year options at same terms & conditions. This property enjoys visibility from Interstate 37, and is at a freeway off/on ramp. Corpus Christi is the 8th largest populous city in Texas with a reported 316,595 residents. This property is located less than 10 miles from Corpus Christi International Airport. Jack in the Box (NASDAQ:JACK) operates and franchises 2,193 restaurants in the United States, of which 584 are located in the state of Texas.

FOR SALE DETAILS

PRICE

$1,705,000 USD

PRICE/SF

$688 USD /SF

CAP RATE

7.59%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Jack in the Box

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

ADD'L SUBTYPES

Fast Food, Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2008

SPRINKLERS

-

PARKING SPACES

44

LAND DETAILS

LAND ACRES

1.05 AC

LAND SF

45,738 SF

ZONING

B4

APN/PARCEL ID

376362

ASK ABOUT THIS PROPERTY

Steve SauterMarcus & MillichapMore Info
650-279-5790

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Steve SauterMarcus & MillichapMore Info
650-279-5790

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.