Marcus & Millichap is pleased to present Carl’s Jr., a ±3,080 square-foot single-tenant retail asset located at 2053 Loop 11 in Wichita Falls, Texas. The offering features a ±3,080 SF freestanding quick-service restaurant on an absolute NNN lease with 11+ years remaining. While the current tenant, OK Restaurant Holdings, LLC—a 38-unit Carl’s Jr. and Hardee’s franchisee—is five months behind on rent, the lease remains in place and backed by a personal guaranty. This circumstance provides investors with a rare opportunity to capture upside by negotiating with the franchisee, pursuing remedies under the lease, or backfilling with a new tenant in a proven quick-service restaurant location. Tenant has elected not to exercise the ROFR – Right of First Refusal. The property is strategically positioned on Loop 11 at the entrance to US Highway 287 (25,300 VPD) and just minutes from I-44 (31,400 VPD). It benefits from excellent visibility, strong co-tenancy, and proximity to major demand drivers including Sheppard Air Force Base, which supports a population of over 60,000 military and civilian personnel. Surrounding retailers include Walmart, Cracker Barrel, Denny’s, KFC, and T-Mobile, making this a proven retail corridor with strong daytime population and traffic. This auction represents a compelling chance for investors to acquire a well-located NNN asset at a low cost basis with multiple exit strategies—current cash flow potential, value-add through backfill, or long-term redevelopment.