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Hardee's 105 N Mechanic St 3,336 SF Retail Building Franklin, VA 23851 $2,431,465 CAD ($728.86 CAD/SF) 6.15% Cap Rate
INVESTMENT HIGHLIGHTS
- Newly Extended 10-Year Absolute Triple Net (NNN) Lease
- Recent 2023 Remodel of the Location | Tenant Covered All Costs Showing Strong Commitment
- Five and a Half Percent (5.50%)of Annual Sales in Percentage Rent
EXECUTIVE SUMMARY
NNN Pro Group is pleased to present the exclusive listing for a Hardee’s located at 105 N Mechanic Street in Franklin, VA. The site consists of roughly 3,336 rentable square feet of building space on estimated 0.67-acre parcel of land. This absolute triple-net (NNN) lease was recently extended by 10 years in August 2023. The current annual rent is $80,000 and the landlord has received an average of $25,164 in additional percentage rent over the past three years. The tenant has 4, 5-year renewal options.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Fast Food
Building Size
3,336 SF
Building Class
C
Year Built
1985
Price
$2,431,465 CAD
Price Per SF
$728.86 CAD
Cap Rate
6.15%
NOI
$149,535 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.11
Lot Size
0.67 AC
Opportunity Zone
Yes
Zoning
B2 - General Business
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Hardee's | 105 N Mechanic St
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