Investment Highlights
- Building Underwent Extensive Renovations in 2016
- 10-Year, Triple Net Sale-Leaseback to Commence Upon Close of Escrow
- Four, Five-Year Renewal Options with Eight Percent Increases Every Five Years Throughout Base Term and Options
- Location Includes a Drive-Thru Which Combats Against Possible Dining Restrictions
- Located off Pine Avenue with a Daily Traffic Count of More Than 30,000 Vehicles
- The Ocala Metro is the Horse Capital of the World; the Equine Industry has a Yearly Economic Impact of $2.6 Billion
Investment Overview
Marcus & Millichap is pleased to present the exclusive listing for a Hardee’s restaurant, located in Ocala, Florida. This Hardee’s offers a new 10-year, triple net sale-leaseback, commencing upon close of escrow. There are four, five-year renewal options, extending the total possible lease term to 30 years. Rent will increase by eight percent every five years throughout the base term and option periods.
In 2016, the building underwent extensive renovations including: new roof with 20-year warranty, flooring, bathrooms, entire store glass system, electrical, plumbing, hood systems, walk-in units, furniture package, and complete restaurant equipment package.
The city of Ocala is centered among Jacksonville, Orlando and Tampa. This Hardee’s restaurant is located in Historic Downtown Ocala, off Pine Avenue with a daily traffic count of more than 30,000 vehicles. It’s also within close proximity to Interstate 75, the major roadway in the area with a daily traffic count of more than 78,000 vehicles. The subject property is 1.5 miles from Ocala Regional Medical Center, which is one of the largest employers in Ocala.
Arbor Capital Partners is the lease guarantor with more than 20 years of franchise experience and owns and operates 13 Hardee’s locations (11 units are on the guaranty for this particular lease). Hardee’s parent company, CKE, has more than 3,800 franchised or company-operated restaurants in 44 states and 43 foreign countries and U.S. territories.
