Contract Pending

Retail•Restaurant•For Sale

Hardee's Pensacola, Florida

7137 North 9th Avenue, Pensacola, Florida 32504

Sale Price $1,975,000 ($795.09 /SqFt)
Sale Type Investment
Sale Condition NNN Investment
Tenant Yes
Bldg Type Single-Tenant
Class A
Status Existing
Year Built 2015
Stories 1
Cap Rate 5.44%
Gross Bldg 2,484 SqFt
Total Avail 2,484 SqFt
Floor Size 2,484 SqFt
Land Area 1.35 Acres
Net Lease Realty Partners is pleased to offer for sale a Hardee’s Net Leased property located in Pensacola, Florida. The subject property an out-lot to Winn-Dixie and adjacent to a busy Wal-Mart Shopping Center. The site benefits from high traffic exposure of over 32,000 vehicles per day along 9th Avenue - a busy retail arterial which leads into Downtown Pensacola. Notable national retail tenants in the immediate area include Winn-Dixie, Wal-Mart, McDonald’s, Guitar Center, CVS, Habitat for Humanity, Pensacola Fitness Club, Regions Bank, Ashley Furniture, Zaxby's, Take 5 Oil Change, Dominos Pizza, Schlotzsky's Deli, Murphy's USA, Advance Auto Parts and Dollar tree just to name a few. The subject property is leased to Paradigm Investment Group which is one of the largest Hardee's franchisees in the country. Paradigm Investment Group currently operates over 100 locations across five states, as well as Jersey Mike's & Blaze Pizza Stores. The property was built in 2015 and is situated on a large 1.35 Acre Parcel. The Absolute Triple Net Lease (NNN) commenced in October 2015 and will run through October 2035, with (4) 5-Year Options to extend the lease. The lease also features set rental increases of 7.5% adjusted every 5-years - a great hedge against inflation for a potential investor. Given the Absolute Net Lease structure of the landlord responsibilities - Perfect for out of area/state, passive Real Estate investors!
  • Absolute Net (NNN) Lease – The property is currently under a 20- Year Absolute Net (NNN) Lease, with approximately +/- 15.5 Years r remaining until the tenant's option periods. The landlord is not responsible for the roof and structure of the property. The lease is guaranteed by Paradigm Investment Group.
  • Out-lot to a Busy Winn-Dixie Shopping Center - The subject Hardee’s site sits as an out-lot in front of a large Winn-Dixie Shopping Center. The center benefits from strong traffic count, over 32,000+ cars pass by the center daily on the 9th Ave.
  • Strong Operator- The subject of Hardee’s net leased to Paradigm Investment Group, which operates over 100 locations throughout States.
2/5/2020 12:00:00 AM 2/19/2020 6:45:04 PM
Paul Bonanno
Broker
Net Lease Realty Partners
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