Marcus & Millichap is pleased to present a Jack in the Box Corporate NNN Ground Lease in San Francisco, CA. This highly visible, two-story restaurant has been occupied by Jack in the Box exclusively since its construction in 1986. The building was originally constructed for Wendy’s, but Wendy’s never occupied the property, and Jack in the Box has been the sole tenant for 38 years. The approximately 2,997-square-foot (building not included in the sale) is a single-tenant building operates for 24 hours a day. The ground lease has 9.2 years remaining, with two (5-year) renewal options controlling the site for 19+ years with rental adjustments every five years, subject to CPI-based increases with a minimum 3% annual escalation and a maximum 5% annual cap. This offering is structured with a corporate-guaranteed lease and a franchise operator in place. The lease structure provides stability with synchronized renewal terms, having the same term and number of options across two adjacent ground leases, ensuring operational continuity. Jack in the Box is the lease guarantor. The two ground leases are co-terminus, having the same term and number of options. They are renewed at the same time. The exercise dates are the same. The operator is under a sublease with Jack in the Box Corporate, subject to the master lease. Jack in the Box is the tenant under the lease with the tenant’s franchisee in possession of the Premises pursuant to the provisions of that certain Franchise Lease, dated June 1, 2024. Ideal-Management-Free Investment | Over 2200 Locations Throughout the U.S. | Jack in the Box Founded in 1951