This Retail Property is Off-Market.

1600 Roosevelt Boulevard East
Monroe, NC 28112 ·

2,084 SF · Retail For Sale

N/A

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Jack in the Box

Price N/A Cap Rate 7.42%
Building Size 2,084 SF Occupancy 100%
Property Type Retail Tenancy Single
Property Sub-type Restaurant Lot Size 38,055 SF
Property Use Type Net Lease Investment with 9 years left on lease
Listing ID: 17612314 Date Created: 04/11/2012 Last Updated: 12/07/2012

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.

Research

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

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