Address: 4652 US-90, Marianna, Florida, United States 32446
Cap Rate: 5.50%
Lease Type: Triple Net (NNN)
Annual Rent: $109,976
Net Operating Income: $109,976
Lease Term Remaining: 20 Years
Rental Increases: 10.00% Every Five (5) Years
Options: Four (4), Five (5) Year Options
Rentable Sq/Ft: 3,566 SF
Rent Sq/Ft: $30.84
Price Sq/Ft: $561
Lot Size: +/-1.61 Acres
Marcus & Millichap is pleased to present the exclusive listing for a Hardee’s located at 4652 US-90, Marianna, FL. The property consists of 3,566 square feet of building space and is situated on approximately 1.61 acres of land. The tenant will enter into a brand new, 20-year triple-net (NNN) lease with absolutely no landlord responsibilities upon the close of escrow. The lease will call for 10.00% rental increases every five years that will continue through the base term and into the four, five-year tenant renewal options. The lease will carry a franchisee guaranty from Phase Three Star, an 85 unit operator.
This Hardee’s property is located at 4652 US-90 in Marianna, Florida. Marianna is located in Jackson County Florida, approximately 65 miles west of Tallahassee.
This Hardee’s is strategically located along U.S. highway 90, providing easy access and strong vehicle traffic passing the site each day. The subject property is surrounded by several major national tenants including: CVS Pharmacy, Taco Bell, Burger King, Goodwill, Tractor Supply Co, AutoZone, as well as many others. Located just 2.5 miles from the Hardee’s property is Chipola College, the main choice of school for many residents in the area. Chipola College, offers dual-enrollment classes for high school students and has a total enrollment of 2,274 students. Chipola River runs directly through Marianna and is footsteps from this Hardee’s property. The Chipola River is a main source of recreation all year round. Less than four miles from the subject property is Florida Cavern State Park which is visited by more than 100,000 tourists per year who come to cave dive in the underwater blue springs.
The subject property benefits from being located directly on US-90, which boasts average daily traffic counts exceeding 24,500 vehicles. US-90 intersects with Route 71 which brings an additional 10,000 vehicles into the immediate area on average daily. Passing through the southern end of the city is Interstate 10 with traffic counts of 23,500 vehicles per day. Interstate 10 allows for ease of access to Tallahassee and Pensacola.
The city of Marianna is located just 65 miles west of the bustling city of Tallahassee. It is the largest city in the Florida Panhandle region, and is the main center for trade and agriculture in the Florida Big Bend and Southwest Georgia regions. In 2016, Tallahassee became the 7th largest city in Florida and the 126th largest city in the United States. It is home to Florida State University and Florida A&M University, which adds a student population exceeding 70,000 to its already large population of 190,894. As the capital, Tallahassee is the site of the Florida State Capitol, Supreme Court of Florida, Florida Governor’s Mansion, and nearly 30 state agency headquarters. The city is also known for its large number of law firms, lobbying organizations, trade associations and professional associations, including the Florida Bar and the Florida Chamber of Commerce. It is a recognized regional center for scientific research, and home to the National High Magnetic Field Laboratory. In 2015, Tallahassee was awarded the All-American City Award by the National Civic League for the second time. Tallahassee is currently ranked as the 18th-best college town in the nation by Best College Reviews.
Broker of Record: Ryan Nee – License # BK3154667