Great Falls, MT - Hardee's

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, freestanding, drive-thru equipped, Hardee’s investment property located in Great Falls, Montana. The tenant has approximately 17-years remaining on its lease with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor. The store boasts strong sales and a single digit rent to sales ratio (contact agent for details).

The asset has excellent visibility and multiple points of access near the intersection of 10th Avenue South (30,400 VPD) and 26th Street South (10,100 VPD). 10th Avenue South is the primary retail thoroughfare serving the city of Great Falls with a strong lineup of national/credit tenants including Walmart Supercenter, Target, Albertsons, and Super 1 Foods, all within a 2-mile radius. Hardee’s receives significant crossover retail exposure from nearby tenants in addition to national fast-food chains such as Starbucks, McDonald’s, Taco Bell, Burger King, and Chipotle. Strong tenant synergy throughout the immediate area promotes further consumer traffic to the subject property. Furthermore, the site is directly across from the 250K+ square foot Benefis East Medical Campus (478 beds) and the University of Providence, the primary healthcare and higher education providers in the area, providing a direct consumer base from which to draw. The 5-mile trade area is supported by a population of over 69,900 residents and 42,400 employees with an average household income of $86,604.