14665 SE Sunnyside Rd, Happy Valley, OR 97086

2792 SF      .77 Acres      $2,860,000    SOLD

STNL CARL'S JR RESTAURANT


Marty Clouser of Kennedy Wilson Real Estate Sales & Marketing represented the buyer of this Absolute NNN leased Carl's Jr/Green Burrito restaurant.

At the time of the sale there were over 14 years remaining on the lease with four five-year option periods. The lease provides rental growth of 10% escalations every five years allowing for a strong hedge against inflation. The area directly surrounding the Subject Property boasts strong demographics with average household income within one-mile exceeds $103,000. The tenant had over 100 years combined experience with Carl's Jr. Located on a highly-visible soft corner of a signalized intersection, Carl’s Jr. is exposed to nearly 22,000 vehicles per day along Southeast Sunnyside Road.
 
Sunnyside Village Square, an 88,000-square foot Ace Hardware and soon to be Grocery Outlet anchored community center, is located directly across the street. Other nearby retailers include Jack in the Box, Starbucks, Godfather’s Pizza and AutoZone creating a daily needs draw to the area. Carl’s Jr. is ideally situated within two miles of four major grocery-anchored centers.
This was the upleg of the buyer's 1031 exchange in which the buyer was able to quadruple its annual income by selling its interest in a 96 unit apartment building in Southern California (at 3.98% cap rate) and acquire this property in June 2017 for $2,860,000 at a 5% cap rate.

Marty Clouser

Cal Broker DRE# 00912230

(310) 887-6422

mclouser@kennedywilson.com

realtor

310.887.6446

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