Hardee’s

Mount Pleasant, IA

Price $1,753,000
Cap Rate 6.00%
TYPE Single-Tenant
STATUS Closed
Tenant Hardee's
LEASE TYPE Absolute NNN
SQUARE FEET 4,159
PRICE/SQ FT $421
YEAR BUILT 1977
LEASE EXP. 2032
LISTING AGENT Justin Zahn
480-214-5088 x102
justin@ciadvisor.com

Property Description

Hardee’s has a brand new 15 year Absolute NNN lease with 7.5% rental escalations every 5 years and three 5 year renewal options. The tenant, Westar Foods, Inc., owns and operates 36 Hardee’s locations in Iowa & Nebraska. The entity on the lease encompasses all restaurant locations. This is a seasoned sales location with above average sales! Hardee’s has been successfully open an operating for decades at this location with an attractive 7.50% rent-to-sales ratio. This subject location is slated from remodel by year end 2020 to the latest Hardee’s approved prototype.

Hardee’s is located in Mount Pleasant, Iowa, just off the hard corner with high drive-by visibility. The property is just 1 mile from Henry County Health Center and Iowa Wesleyan University, a private 4-year, coeducational, church-related liberal arts university offering over 40 majors & programs. Nearby retailers include Walmart Supercenter, Hy-Vee, Orscheln Farm & Home, ALDI, True Value Rental, Dollar General, Advance Auto Parts, Peebles, Anytime Fitness, O’Reilly Auto Parts, etc.

*In Association With: Elliott Realty Group

Property Highlights

  • Brand New 15 Year Absolute NNN Lease with 7.5% Rental Escalations every 5 Years
  • Above Average Sales: Successfully Open & Operating for Decades with an Attractive 7.50% Rent-to-Sales Ratio Helping Ensure Long-Term Success at this Location!
  • Situated just off the Hard Corner where Traffic Counts Exceed 16,400 CPD!
  • Tenant: Westar Foods, Inc. – Owns & Operates 36 Hardee’s Locations in Iowa & Nebraska (Entity on the Lease Encompasses All Restaurant Locations)
  • Slated for Remodel to Hardee’s Approved Prototype by YE 2020
  • Demographics – Total Population: 10,461 | Average Household Income: $62,468