Historical Retail Sale Listing - Jack in the Box

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Jack in the Box

1600 Roosevelt Boulevard East, Monroe, NC 28112

N/A

2,084 SF | Retail

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Retail Property - Off Market

Price:
N/A
Building Size:
2,084 SF
Property Type:
Retail
Property Sub-type:
Restaurant
Property Use Type:
Net Lease Investment with
9 years left on lease
Cap Rate:
7.42%
Occupancy:
100%
Tenancy:
Single
Lot Size:
38,055 SF
Listing ID
17612314
Last Updated
over 1 year ago

Description

Marcus & Millichap is pleased to present a Corporate Jack in the Box absolute net leased property in Monroe, North Carolina. This 18 year lease has approximately nine years remaining on its primary term and requires no landlord responsibility. There are stipulated rent increases every five years indexed to protect the landlord against inflation and four, five year options after the primary term of the lease. The next rent increase is scheduled to take place in July of 2013.
Proposed new financing- Loan- $975,000 at 4.75% interest rate, 20 year amortization.

The property is ideally located at the 'Y' intersection of high-traffic U.S. Route 74 and U.S. Route 601. Commonly known as East Roosevelt Boulevard, U.S. Route 74 is a major west/east highway that runs from Cleveland, Tennessee to Wrightsville Beach, North Carolina. Its intersection with U.S. Route 601, a north/south thoroughfare, has an average daily traffic count of 45,000 cars a day in front of Jack in the Box. Further adding to the appeal of the property is the dense traffic created by vacationers on their way to the multiple beach communities on the Atlantic Ocean.

Map of 1600 Roosevelt Boulevard East, Monroe, NC 28112 (Union County)

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