NNN Pro is pleased to present the exclusive listing for an Arko C-Store / Gas Station located at 5673 Gum Branch Road in Jacksonville, NC. The site consists of roughly 5,051 rentable square feet of building space on estimated 2.29-acre parcel of land. This ARKO is subject to a 20-year absolute triple-net (NNN) lease, which commenced January 13th, 2022. The current annual rent is $262,680 and is scheduled to increase by 2% annually throughout the base term and in each of the 6, 5-year renewal options.
About the Investment
✓ Long-Term, Absolute Triple Net (NNN) Lease
✓ Approximately 17+ Years Remaining
✓ Two Percent (2%) Annual Rental Increases
✓ Six (6), Five (5)-Year Tenant Renewal Options
NNN Pro Group is pleased to present the exclusive listing for a Burger King located at 13049 North Main St, Jacksonville FL. The site consists of roughly 4,250 rentable square feet of building space on an estimated 1.1-acre parcel of land. This investment opportunity features a recently extended fifteen (15) year lease term with zero landlord responsibilities and is subject to four (4), five (5) year tenant renewal options. The current rent annual rent is $126,000 and is scheduled to increase by ten percent (10%) every five (5) years throughout the base term and option periods.
*The lease carries a natural percentage rent breakpoint of eight and a quarter (8.25%) percent above the minimum base rent.
✓ Recent 15 Year Lease Extension
✓ Triple Net (NNN) Lease with Zero Landlord Responsibilities
✓ Planned Remodel As Part of Burger King’s “Reclaim the Flame” Initiative
✓ Attractive Rental Increases of Ten Percent (10%) Every Five (5) Years
✓ Four (4) Tenant Renewal Periods of Five (5) Years Each
✓ Percentage Rent Provision (8.25% Natural Breakpoint)
NNN Pro Group and Marcus & Millichap are pleased to present the exclusive listing for a LUV Car Wash located at 5500 Beach Blvd in Jacksonville, FL. The site consists of roughly 3,520 rentable square feet of building space on estimated 1.50-acre parcel of land. This LUV Car Wash is subject to a 20-year absolute triple-net (NNN) lease, which will commence at the close of escrow. The current annual rent is $362,500 and is scheduled to increase by 2.00% annually throughout the base term and in each of the 4, 5-year renewal options.
About the Investment:
– Long-Term, 20-Year Absolute Triple Net (NNN) Sale-Leaseback
– Two Percent (2.00%) Annual Rental Increases
– Four (4), Five (5)-Year Tenant Renewal Options, Bringing the Potential Lease Term to 40 Years
– Full Corporate Guarantee from LUV Car Wash Holdings, LLC (75+ Units)
– Accelerated & Bonus Depreciation | Properties Qualify for Both 60% Bonus Depreciation & 15 Year Accelerated Depreciation
NNN Pro Group and Marcus & Millichap are pleased to present the exclusive listing for a LUV Car Wash located at 1555 Dunn Avenue in Jacksonville, FL. The site consists of roughly 4,231 rentable square feet of building space on estimated 0.89-acre parcel of land. This LUV Car Wash is subject to a 20-year absolute triple-net (NNN) lease, which will commence at the close of escrow. The current annual rent is $156,250 and is scheduled to increase by 2.00% annually throughout the base term and in each of the 4, 5-year renewal options.
✓ Long-Term, 20-Year Absolute Triple Net (NNN) Sale-Leaseback
✓ Two Percent (2.00%) Annual Rental Increases
✓ Four (4), Five (5)-Year Tenant Renewal Options, Bringing the Potential Lease Term to 40 Years
✓ Full Corporate Guarantee from LUV Car Wash Group, LLC (75+ Units)
✓ Accelerated & Bonus Depreciation | Properties Qualify for Both 60% Bonus Depreciation & 15 Year Accelerated Depreciation
✓ A Portion of the Property is Subleased to Take 5 Oil Change | Contact Listing Brokers for More Details
