Jacksonville, FL - Arby's

Description:

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, corporate guaranteed, drive-thru equipped, Arby’s investment property located in Jacksonville, FL. The tenant, RTM Operating Company, recently extended their lease through March 2036, leaving 13 years of firm term remaining with 3 additional 5-year options to extend. The lease features scheduled 5.50% rental increases every 5 years throughout the initial term and options, growing NOI and hedging against inflation. The lease is guaranteed by the corporate entity and is absolute NNN with zero landlord responsibilities, making it an ideal, management-free investment opportunity for a passive investor. RTM Operating Company is a subsidiary of Roark Capital Group, the private equity company that owns Inspire Brands. Founded in 1964, Arby’s is among the largest QSR sandwich chains with over 3,300 operating restaurants.

Arby’s is strategically located along Airport Center Drive with clear visibility and access to an average of 21,161 vehicles passing by daily. The asset benefits from direct access onto Interstate 95 (97,000 VPD) and Interstate 295 (73,000 VPD), making this a centralized location with easy commutes for both employees and customers. Arby’s is ideally situated as an outparcel to River City Marketplace, a 950K+ SF Power Center anchored by Walmart Supercenter and Lowe’s Home Improvement. River City Marketplace ranks among the most visited Community Shopping Centers in the country with over 3.8M annual visits. The nearby national/credit tenants consist of Marshalls, ALDI, BJ’s Wholesale, Publix, PetSmart, Best Buy, among many others. The strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure for the site. In addition, the property is directly across UF Health North, a 200K+ SF medical center with 92 beds and 250 employees, making it a viable lunch/dinner option for employees and patients. Furthermore, the property is near numerous single-family communities and multi-family complexes including The Sagefield (234 units), Broxton Bay (324 units), Mirandor & Stovall at River City (552 units), and others, providing a direct residential consumer base for the site. The 5-mile trade area is supported by over 72,800 residents and 25,200 daytime employees, with a healthy average household income of $87,880.