Overview

Description

SRS Real Estate Partners-West, LLC is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, franchisee guaranteed, drive-thru equipped, Carl’s Jr. investment property located in White Hills, Arizona. The tenant, LV Pretroleum, LLC, recently signed a brand new 20-year lease with 4 (10-year) options to extend, demonstrating their commitment to the site. The lease features 2% annual rental increases throughout the initial term and FMV increases throughout the option periods, 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 newly-constructed building features a state-of-the-art design and high-quality materials. Founded in 1941, Carl’s Jr. has been a West Coast favorite for almost 80 years, known for their iconic charbroiled burgers. Today, they have more than 1,000 locations across the U.S. and serves 28 countries worldwide.

The asset is strategically located along U.S. Highway 93, a major commuter thoroughfare averaging 16,100 vehicles passing by daily and directly connects Las Vegas and Phoenix. The building is equipped with a double drive-thru, providing ease and convenience for customers. On average, stores with drive-thrus experience higher sales than those without. The site is equipped with a large monument sign, creating excellent visibility along U.S. Highway 93. Furthermore, there is extremely limited competition in the surrounding 5-mile area with the asset being of one of only a few food options for the city of White Hills and travelers along U.S. Highway 93. The asset is adjacent to Cat Scale Truck Stop, TA Express Truck Stop, and a Conoco gas station, helping increase consumer draw to the immediate trade area and promotes crossover store exposure to the site. The 5-mile trade area is supported by average household income of $59,821.

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