Hardee's

7015 Hacks Cross Road, Olive Branch, MS

$2,150,000

Price

6.5%

Cap Rate

$139,772

NOI

Overview
Cap Rate
6.5%
NOI
$139,772
Building Size
2,794 sqft
Lot Area
1.2 acres
Year Built
2015
Tenancy
Single
Lease Expire Year
10/31/2035
Description

Single-Tenant Hardee’s:
-Absolute NNN lease; zero landlord responsibilities
-15+ years remaining on initial 20-year lease
-10% increases every 5 years including each of the four 5-year options
-Hardee’s parent company, CKE Restaurants, Inc., is a leading fast-food operator with over 3,800 locations across 44 states and 43 countries
-Experienced Hardee’s franchisee; 40 locations across Mississippi, Arkansas, Georgia, South Carolina, and Tennessee
-Rare personal guaranty from franchisee

Outparcel to Holiday Crossing Shopping Center, Anchored by Dollar Tree, and across the Street from Walgreens: Other nearby retailers include AutoZone, Burger King, Dollar General, Goodwill, KFC, McDonald’s, Sonic Drive-In, Taco Bell, Waffle House, and Wendy’s

Adjacent to New 266-Acre, Class A Business Park: 4.2 Million Square Feet (8 Buildings) including a new Amazon 1.1 million square foot fulfillment center that will create 500 new full-time jobs

Strong, High-Growth Demographics: Over 80,000 People and Average Household Incomes in Excess of $89,000 Within a 5-Mile Radius. Population has increased 101% since 2000 within a 3-mile radius of the subject property

Olive Branch is Located within the Memphis, Tennessee MSA:
-30 minutes from downtown Memphis; 25 minutes from Memphis International Airport (4.5 million passengers in 2019)
-Memphis is the 2nd most populous city in Tennessee; 43rd largest metro in the U.S (1.3 million people)
-Home to three Fortune 500 companies; FedEx, AutoZone, and International Paper

Highlights
  • Absolute NNN lease; zero landlord responsibilities
  • 15+ years remaining on initial 20-year lease
  • 10% increases every 5 years including each of the four 5-year options
  • Hardee’s parent company, CKE Restaurants, Inc., is a leading fast-food operator with over 3,800 locations across 44 states and 43 countries
  • Experienced Hardee’s franchisee; 40 locations across Mississippi, Arkansas, Georgia, South Carolina, and Tennessee
  • Rare personal guaranty from franchisee
  • Strong, High-Growth Demographics: Over 80,000 People and Average Household Incomes in Excess of $89,000 Within a 5-Mile Radius. Population has increased 101% since 2000 within a 3-mile radius of the subject property
  • Olive Branch is Located within the Memphis, Tennessee MSA
  • 30 minutes from downtown Memphis; 25 minutes from Memphis International Airport (4.5 million passengers in 2019)
  • Memphis is the 2nd most populous city in Tennessee; 43rd largest metro in the U.S (1.3 million people)
Documents
Title
CLICK HERE FOR COMPLETE OFFERING MEMORANDUM
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Location
Gallery