Hardee's
Franklin, VA
Key Details
| Price: | $1,741,837 |
|---|---|
| Cap Rate: | 6.15% |
| Annual Rent: | $107,123 |
| Address: | 105 North Mechanic Street, Franklin, Virginia 23851 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 21 Years |
|---|---|
| Lease Commencement: | 4/30/2012 |
| Lease Expiration: | 8/31/2033 |
| Lease Term Remaining: | 8.4 Years |
| Rental Increases: | 5.50% of Annual Sales |
| Lot Size: | 0.67 Acres |
| Building Size: | 3,336 SF |
| Year Built: | 1985 |
| Year Renovated: | 2023 |
NNN Pro Group is pleased to present the exclusive listing for a Hardee’s located at 105 North Mechanic Street in Franklin, VA. The site consists of roughly 3,336 rentable square feet of building space on estimated 0.67-acre parcel of land. This absolute triple-net (NNN) lease was recently extended by 10 years in August 2023. The current annual rent is $80,000 and the landlord has received an average of $27,123 in additional percentage rent over the past three years. The tenant has 4, 5-year renewal options.
About the Investment
- Newly Extended 10-Year Absolute Triple Net (NNN) Lease
- Five and a Half Percent (5.50%)of Annual Sales in Percentage Rent
- Recent 2023 Remodel of the Location | Tenant Covered All Costs Showing Strong Commitment
- Full Franchisee Guarantee from Boddie-Noell Enterprises, Inc. – The Largest and Oldest Franchisee in the Hardee’s System Of The Nation’s Largest Pizza Hut Operators
- Tenant Reports Strong Sales Above the National Average for Hardee’s
Key Details
| Price: | $1,741,837 |
|---|---|
| Cap Rate: | 6.15% |
| Annual Rent: | $107,123 |
| Address: | 105 North Mechanic Street, Franklin, Virginia 23851 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 21 Years |
|---|---|
| Lease Commencement: | 4/30/2012 |
| Lease Expiration: | 8/31/2033 |
| Lease Term Remaining: | 8.4 Years |
| Rental Increases: | 5.50% of Annual Sales |
| Lot Size: | 0.67 Acres |
| Building Size: | 3,336 SF |
| Year Built: | 1985 |
| Year Renovated: | 2023 |
Talk to the Pros
Glen Kunofsky
gkunofsky@nnnpro.com
License: NY: 49KU1129178
Edward Otocka
eotocka@nnnpro.com
License: NY: 10401298466
Anthony Bird
abird@nnnpro.com
License: NY: 10401306066
Broker of Record
Brian Brockman
Bang Realty, Inc
License: 225245999
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This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.