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Carl’s Jr.

Ogden, Utah

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Marcus & Millichap is pleased to present the exclusive net lease offering for the Carl’s Jr. located at 180 East 12th Street in Ogden, Utah. The property consists of roughly 3,035 rentable square feet of building space and is located on an estimated 0.73-acre parcel of land.
The property is subject to a 20-year triple-net (NNN) lease which began on February 1st, 2021 and has just under 20 years remaining. The current rent is $124,464 with rental increases of 10% every 5 years throughout the base term and into each of the four (4), five (5)-year tenant renewal option periods.

About the Investment:

– Brand-New, Long-Term, 20-Year Triple-Net (NNN) Lease
– Attractive 10% Rental Increases Every 5 Years
– Four (4), Five (5)-Year Tenant Renewal Options – Extending Total Possible Term to 40 Years

About the Location:

– Dense Retail Corridor | Home Depot, WinCo Foods, Walgreens, McDonald’s, Chick-fil-A, Burger King, Wendy’s, Popeyes, KFC, Zaxby’s, Taco Bell, OfficeMax, Ross Dress for Less, Family Dollar, and Many More
– Robust Demographics | More than 140,000 Individuals Reside within a Five-Mile Radius of the Subject Property
– Heavily Trafficked Area | East 12th Street Intersects with Wall Avenue and Washington Boulevard | 28,500, 28,500 & 33,000 VPD, Respectively
– Strategic Asset Positioning | Just East of Business Depot Ogden | Premier Industrial Business Park Composed of 1, 118 Acres & 12.5 Million Square-Feet of New Construction
– Immediate Access to Healthcare | Approximately Five Miles from Ogden Regional Medical Center & McKay-Dee Hospital | Combined 540+ Beds
– Strong Underlying Real Estate | Located Just Over 30 Miles North of Salt Lake City, Utah’s Capital & Most-Populous City

About the Tenant/Brand:

– Carl’s Jr. is a Wholly Owned Subsidiary of CKE Restaurants, Inc. of Franklin, Tennessee
– Carl’s Jr. was Founded in 1941 by Industry Pioneer Carl N. Karcher
– CKE Restaurants, Inc., through its Subsidiaries, has a Total of Over 3,800 Franchised or Company-Owned Restaurants in 44 States and in 43 Foreign Countries or U.S. Territories, Including 1,079 Carl’s Jr. Restaurants and 1,923 Hardee’s® Restaurants
– Carl’s Jr.’s® Long History of Industry Innovations have Included Enhancements to the Customer Experience, Including Partial Table Service, the Dual-Branding Concept, and Inventive Restaurant Design

Key Details

Price:
$2,489,280
Cap Rate:
5.00%
Annual Rent:
$124,464
Address:
180 East 12th Street, Ogden, Utah 84404
Property Type:
Net-Leased Restaurant
Lease Type:
Triple-Net (NNN)

Original Lease Term:
20 Years
Lease Commencement:
February 1, 2021
Lease Expiration:
January 31, 2041
Lease Term Remaining:
19.5+ Years
Rental Increases:
10% Every 5 Years
Lot Size:
+/- 0.73 Acres
Building Size:
3,035 SF
Year Built:
1999
Year Renovated:
2009
Tenant:
Carl’s Jr.

Broker of record

Gary Mangum

License: 5468490-PB00


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