Overview

Description

SRS National Net Lease Group is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in an absolute NNN, drive-thru equipped, Taco Bell investment property located in Sacramento, CA. The tenant, Engen Ventures, Inc, has over 11 years remaining on their current lease term with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features a 10% rental increase every 5 years throughout the initial term and option periods, growing NOI and hedging against inflation. The lease is absolute NNN with no landlord responsibilities making it an ideal, management-free investment opportunity for a passive investor.

The Taco Bell is located along Mack Road, which averages 31,900 vehicles passing by daily and is a major retail thoroughfare serving the city of Sacramento. Additionally, the property is located nearby to State Highway 99, a major north/south thoroughfare traveling through the city of Sacramento, averaging a total of 196,000 vehicles passing daily. The asset is complete with a drive-thru, providing ease and convenience for customers. On average, stores with drive-thrus experience higher sales than those without. The asset is less than 2 miles southwest of Florin Towne Center, a 250,000 square foot shopping center with major tenants including a Walmart Supercenter, Dollar Tree, PetSmart, and more. In addition, Taco Bell is located northeast of Delta Shores, a 923,000 square foot shopping mall anchored by a Walmart Supercenter and Dick’s Sporting Goods. The property is in the center of a primary retail corridor with other nearby national/credit tenants including The Home Depot, Lowe’s Home Improvement, Costco Wholesale, Target, Grocery Outlet, and more, further increasing consumer traffic to the site. Strong tenant synergy promotes crossover shopping to the subject property. The 5-mile local trade area is supported by a population of over 393,500 with an average household income of $99,450.

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