Jack in the Box - 55 Yr Operating History - Absolute NNN - 4.31% CAP - Westwood (Los Angeles) CA

OFFERING
PRICE
$7,400,000

CAP RATE
(IN PLACE)
4.31%

AVG. CAP RATE
(REMAINING LEASE TERM)
4.89%

ABSOLUTE NNN
CORPORATE LEASE
±15.5 YEARS


	PROPERTY HIGHLIGHTS
	Address:	10961 & 10967 Santa Monica Blvd, Los Angeles, CA 90025
	Tenant/Lessee:	JACK IN THE BOX, INC. (CORPORATE LEASE)
	Lease Expiration:	July 31, 2036 (±15.5 Years Remaining) - 55 Yrs. At This Location
	Increases:	Twelve (12) % Increases X 5 Yrs.
	Leaser Type:	Absolute NNN (No Landlord Responsibilities)
	Building Area:	2,025 SF
	Land Area:	7,894 SF (.18 Acres)
	APN:	4324-030-016 & 4324-030-017
	Zoning:	{Q} C2-1VL-O
	Transit Oriented Communities (TOC):	Tier 3 (Greater of 3.75:1 FAR or 50% increase) (Adjacent Property Subsurface Fault Line Testing - No Issue)
	Ownership:	Fee Simple
	Parking:	10 Stalls (4.94 Stalls / 1,000 SF) + Drive-Thru
	Traffic Counts:	±60,000 VPD (Santa Monica Blvd & Veteran Ave)

	INVESTMENT HIGHLIGHTS
	ABSOLUTE NNN CORPORATE LEASE WITH ±15.5 YEARS REMAINING The lease expires July 31, 2031 (±15.5 years remaining) and is a true Absolute NNN lease with zero landlord responsibilities.
	HIGHLY ATTRACTIVE 1031 TAX FREE EXCHANGE PROPERTY Established tenancy (55+ yrs) with recent new 20Yr. STNL (15.5 yrs. remaining).
	STRONG RENTAL GROWTH: 12 % INCREASES EVERY 5 YEARS Jack in the Box has scheduled 12% rental increases every 5 years, providing a strong hedge against inflation.
	EXTREMELY RARE 24-HOUR DRIVE-THRU SITE ON SANTA MONICA BLVD The subject is one of two properties located along Santa Monica Boulevard (east of 405 Fwy. to Beverly Hills) with drive-thru. which provides an extra level of ease and convenience for customers. In addition, the property is open 24 hours a day, 7 days a week.
	TREMENDOUS HISTORICAL OPERATING HISTORY AND STRONG SALES THROUGH PANDEMIC Jack in the Box averages over $2.2 M in Gross Sales at the subject property (Over $1000/SF) which is 51% higher than the chain average. The subject location sales held up well through the strictest months of the pandemic shutdowns (no indoor dining), a testament to the drive-thru's value.
	FEE SIMPLE OWNERSHIP (DEPRECIATION TAX BENEFIT) Fee Simple (Land + Building) ownership structure allows for new buyer to depreciate improvements. SOLID REAL ESTATE FUNDAMENTALS The property benefits from a number of strong real estate fundamentals including:
	»	Signalized corner location on the heavily trafficked Santa Monica Blvd (+/- 66,000 VPD) a major west-east thoroughfare connecting many of LA’s wealthiest areas including: West Los Angeles, Westwood, Century City, Beverly Hills and West Hollywood.
	»	Santa Monica Boulevard and Veteran Ave street frontage visibility, multiple property access points and prominent Pylon Signage optimizing the properties premier urban-infill location.
	AFFLUENT URBAN INFILL WESTSIDE (LOS ANGELES) DEMOGRAPHICS
	»	More than 150,000 residents and 338,000 daytime employees within a two (2) mile radius of the property.
	»	Tremendous trade area wealth with an average household income of over $135,000 and average housing value of $1,248,235 within a two (2) mile radius.

CA BUTTONE

WEB BUTTON


	INVESTMENT CONTACTS	DAN RILEY Senior Vice President Lic. 01057519 +1 310 363 4899 dan.riley@cbre.com	AUSTIN WOLITARSKY Senior Associate Lic. 01957206 +1 310 363 4922 austin.wolitarsky@cbre.com	SIMON MATTOX Vice President Lic. 01732008 +1 310 796 6229 simon.mattox@cbre.com

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