Investment Offering
Rexburg, ID - Denny's
585 N 2nd E | Rexburg, ID 83440
Description
SRS Real Estate Partners, LLC in collaboration with NAI Select is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, Denny’s investment property located in Rexburg, Idaho. The tenant, Arexburg, LLC has approximately 19 years remaining on a 20-year lease with 2 (10-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 10 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 franchisee operates 24 Denny’s, as well as many other concepts.
Location
The Denny’s is located near the signalized, hard-corner intersection of N 2nd E and E 7th N. N 2nd E is a major retail thoroughfare serving the city of Rexburg. The Denny’s is located directly across from a 133,000+ square foot shopping center, complete with tenants including Harbor Freight Tools, Albertson’s, Arby’s, and Del Taco. The asset is within a 1.50 mile radius from a 187,000 square foot Walmart Supercenter, complete with a Panda Express outparcel and a 5,749 square foot multi-tenant property. The property is in the center of a primary retail corridor with other nearby national/credit tenants including a McDonald’s, Arby’s, Taco Bell, Freddy’s, Dairy Queen, Advance Auto Parts, AutoZone, Grease Monkey, and more, further increasing consumer traffic to the site. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. The 5-mile trade area is supported by a population of over 50,700 with an average household income of $76,283.
Contact
Matthew Mousavi
Sr Managing Principal & Co-Head of National Net Lease
949.698.1116949.698.1116[email protected]CA #: 01732226
Patrick Luther, CCIM
Sr Managing Principal & Co-Head of National Net Lease
949.698.1115949.698.1115[email protected]CA #: 01912215
Mike Erkmann
NO COMPANY - DO NOT CHANGE COMPANY NAME