Whataburger | 289 Blanding Blvd
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Whataburger 289 Blanding Blvd
2,778 SF Retail Building Orange Park, FL 32073 $2,837,272 CAD ($1,021 CAD/SF) 4.75% Cap Rate
INVESTMENT HIGHLIGHTS
- ? Below Market Rent In Fast Rent Growth Market
- ? Subleased Investment Structure Mitigating Downside
- ? Ten Percent (10%) Rental Increases Occurring Every Five (5) Years In Option Periods
EXECUTIVE SUMMARY
This Offering Presents Effectively A Two-layered
Guaranty Of Lease And Performance. Whataburger
Corporate Subleases The Building From Tenant – JWB
Ventures – And Performs All Obligations Of Tenant.
In The Unlikely Event That Whataburger Chooses Not
To Extend Their Sublease, JWB Ventures Must Uphold
The NNN Terms Of The Lease With Landlord. In Short,
Due To A Dual Guaranty From Whataburger Corporate
& JWB Ventures, This Is An Inherently Safer Asset
Than Competing Net-lease Properties. Additionally,
Should Whataburger Continue To Renew Their
Sublease, The Tenant Must Exercise Their Options
Under The Master Lease.
Furthermore, It Is Estimated That The Current Rent Of
$93,170 Is At Least 30% Below Market. A Landlord Is
Not Only Afforded A Doubly-guaranteed Lease, But
Should BOTH The Tenant (JWB) And Subtenant
(Whataburger) Choose Not To Renew, The Landlord
Will Have An Opportunity To Reclaim Control of the
Investment and Capitalize On The Currently Belowmarket Rent, Capturing Higher Market Rates With A
New Lease.
With This Investment A Buyer’s Downside Is Mitigated
While Having Future Upside From The Below-market
Rent That The Tenant Is Currently Paying.
Guaranty Of Lease And Performance. Whataburger
Corporate Subleases The Building From Tenant – JWB
Ventures – And Performs All Obligations Of Tenant.
In The Unlikely Event That Whataburger Chooses Not
To Extend Their Sublease, JWB Ventures Must Uphold
The NNN Terms Of The Lease With Landlord. In Short,
Due To A Dual Guaranty From Whataburger Corporate
& JWB Ventures, This Is An Inherently Safer Asset
Than Competing Net-lease Properties. Additionally,
Should Whataburger Continue To Renew Their
Sublease, The Tenant Must Exercise Their Options
Under The Master Lease.
Furthermore, It Is Estimated That The Current Rent Of
$93,170 Is At Least 30% Below Market. A Landlord Is
Not Only Afforded A Doubly-guaranteed Lease, But
Should BOTH The Tenant (JWB) And Subtenant
(Whataburger) Choose Not To Renew, The Landlord
Will Have An Opportunity To Reclaim Control of the
Investment and Capitalize On The Currently Belowmarket Rent, Capturing Higher Market Rates With A
New Lease.
With This Investment A Buyer’s Downside Is Mitigated
While Having Future Upside From The Below-market
Rent That The Tenant Is Currently Paying.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Fast Food
Building Size
2,778 SF
Building Class
B
Year Built
1995
Price
$2,837,272 CAD
Price Per SF
$1,021 CAD
Cap Rate
4.75%
NOI
$134,770 CAD
Tenancy
Single
Building Height
1 Story
Loading Docks
1 Exterior
Building FAR
0.07
Lot Size
0.89 AC
Zoning
BB
Parking
30 Spaces (10.8 Spaces per 1,000 SF Leased)
Frontage
402 ft on Blairmore Blvd
AMENITIES
- Pylon Sign
- Signalized Intersection
- Drive Thru
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 07-04-26-011768-000-00 | Improvements Assessment | $431,559 CAD |
| Land Assessment | $702,500 CAD | Total Assessment | $1,134,059 CAD |
PROPERTY TAXES
Parcel Number
07-04-26-011768-000-00
Land Assessment
$702,500 CAD
Improvements Assessment
$431,559 CAD
Total Assessment
$1,134,059 CAD
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Whataburger | 289 Blanding Blvd
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