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6360 Westside Rd
Redding, CA 96001
Carl's Jr. · Retail Property For Sale
Investment Highlights
- 100% leased to an established and iconic American fast-food tenant - Carl’s Jr.
- High Performing Location – Carl’s Jr. reports consistent sales, and is paying percentage rent in addition to base rent
Executive Summary
* International Brand – 100% leased to an established and iconic American fast-food tenant - Carl’s Jr.
* High Performing Location – Carl’s Jr. reports consistent sales, and is paying percentage rent in addition to base rent
* Long-Term History, Long-Term Extension – With over 45 years of history at this location (since 1981!), Carl’s Jr. recently extended its lease for a 15-year term (August 2037 expiration) with 2 additional 5-year options, demonstrating the tenant’s commitment to this location and its ongoing viability.
* Attractive Rental Increases – The 15-year lease extension is structured with 6% rental increases every 2 years, an extremely rare but extremely attractive investment attribute providing far superior income growth and inflation hedge than most single-tenant net-leased (STNL) investments.
* Synergistic Co-Tenancy – Carl’s Jr. is a drive-thru out-parcel to Westwood Village, a well-located neighborhood center with national and regional retail operators including Dollar Tree, O’Reilly Auto Parts, Metro by T-Mobile and Round Table Pizza
* High Performing Location – Carl’s Jr. reports consistent sales, and is paying percentage rent in addition to base rent
* Long-Term History, Long-Term Extension – With over 45 years of history at this location (since 1981!), Carl’s Jr. recently extended its lease for a 15-year term (August 2037 expiration) with 2 additional 5-year options, demonstrating the tenant’s commitment to this location and its ongoing viability.
* Attractive Rental Increases – The 15-year lease extension is structured with 6% rental increases every 2 years, an extremely rare but extremely attractive investment attribute providing far superior income growth and inflation hedge than most single-tenant net-leased (STNL) investments.
* Synergistic Co-Tenancy – Carl’s Jr. is a drive-thru out-parcel to Westwood Village, a well-located neighborhood center with national and regional retail operators including Dollar Tree, O’Reilly Auto Parts, Metro by T-Mobile and Round Table Pizza
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Fast Food
Building Size
4,003 SF
Building Class
C
Year Built/Renovated
1979/2015
Price
$2,828,000
Price Per SF
$706.47
Cap Rate
5.50%
NOI
$155,515
Tenancy
Single
Building Height
1 Story
Building FAR
0.15
Lot Size
0.60 AC
Zoning
SC - Shopping Center
Amenities
- Bus Line
- Dedicated Turn Lane
- Freeway Visibility
- Pylon Sign
- Signalized Intersection
Property Taxes
| Parcel Number | 049-500-001-000 | Improvements Assessment | $508,408 |
| Land Assessment | $143,612 | Total Assessment | $652,020 |
Property Taxes
Parcel Number
049-500-001-000
Land Assessment
$143,612
Improvements Assessment
$508,408
Total Assessment
$652,020
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