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Jack in the Box 1605 E Highland Ave
2,502 SF Retail Building San Bernardino, CA 92404 £2,074,716 (£829/SF) 4.50% Net Initial Yield
Investment Highlights
- 1605 E Highland Avenue presents a rare absolute NNN investment opportunity to own a drive-thru quick-service restaurant with near-term upside.
- Occupied by Jack in the Box through a corporate guaranteed lease expiring in 2035 with options to extend for 5 years, each with 12.5% rent increases.
- Strategically at a signalized corner location of Highland and Del Rosa Avenue frequented by over 39,000 VPD and adjacent to many nearby retailers.
- Within a 5-mile radius of 1605 Highland Avenue, customer expenditure for dining out totals over $80.1 million annually at all hours of the day.
Executive Summary
As an absolute NNN investment, the tenant is responsible for all expenses, allowing for passive investment with zero landlord responsibility. The next potential owner can capitalize on the near-term upside, where the next renewal option period in 2035 will adjust by 12.5%. This standalone restaurant building spans 2,502 square feet and sits on a 0.62-acre lot with room for over 14 parking spaces.
Jack in the Box is among the leading quick-service restaurant businesses in the United States. The company operates and franchises more than 2,200 of its flagship hamburger outlets in California, Texas, and 15 other states. The restaurant offers standard fast-food fare, including burgers, fries, soft drinks, salads, tacos, and breakfast items.
1605 E Highland Avenue is at a corner lot at the signalized intersection of Highland Avenue and Del Rosa Avenue, which reports traffic counts of over 39,000 vehicles per day at this location. Jack in the Box shares the intersection with national retailers McDonald's, Walgreens, and CVS. Major retailers within the immediate vicinity include Wells Fargo, DD's Discounts, Stater Bros Market, and more. There are 254,705 residents within the 5-mile radius, which brings in an average household income of $75,972 per year.
Offering Memorandum Click Here to Access
Data Room Click Here to Access
Property Facts Under Contract
Amenities
- Corner Lot
- Drive Thru
About Greater San Bernardino
Once primarily a bedroom community for commuters into Los Angeles and Orange counties, growth in the logistics and healthcare sectors makes Greater San Bernardino a resilient economy. Housing is affordable and draws migration from more expensive coastal communities.
Several leisure and entertainment attractions help drive tourism into the neighborhood. San Manuel Casino hosts nationally recognized musicians and recently underwent renovations to expand its resort with luxury hotel rooms and suites, a pool and spa, and premium dining venues. Big Bear Lake and Snow Summit, which attract visitors from across Southern California year-round for hiking, skiing, and snowboarding, is just a short, scenic drive away. A vibrant student community lives near the California State University of San Bernardino, while many government offices are situated in Downtown San Bernardino, increasing daytime population.
Greater San Bernardino has had few retail deliveries in recent years, and most have been located in Rialto. Leasing activity is supported by non-traditional retail tenants, such as healthcare and education establishments. Rents are among the most affordable in the Inland Empire.
DEMOGRAPHICS
Demographics
Nearby Amenities
Restaurants |
|||
|---|---|---|---|
| Wingstop | - | - | 3 min walk |
| McDonald's | - | - | 2 min walk |
| Domino’s | - | - | 2 min walk |
| All Star Pizza | Pizza | ££ | 9 min walk |
| El Pollo Loco | - | - | 11 min walk |
| Starbucks | Cafe | £ | 13 min walk |
| Wendy's | - | - | 13 min walk |
| I Love Chicken & Waffles | - | - | 13 min walk |
Retail |
||
|---|---|---|
| Walgreens | Drug Store | 3 min walk |
| Wells Fargo | Bank | 3 min walk |
| Cvs Pharmacy | Drug Store | 5 min walk |
| Stater Bros Markets | Supermarket | 5 min walk |
| Bank of America | Bank | 12 min walk |
| Planet Fitness | Fitness | 13 min walk |
| Big 5 Sporting Goods | Sporting Goods | 16 min walk |
| Dollar Tree | Dollar/Variety/Thrift | 16 min walk |
| Rainbow Apparel | Ladies' Apparel | 16 min walk |
Hotels |
|
|---|---|
| Home2 Suites by Hilton |
113 rooms
11 min drive
|
| Staybridge Suites |
106 rooms
13 min drive
|
| Hampton by Hilton |
114 rooms
13 min drive
|
PROPERTY TAXES
| Parcel Number | 0273-371-27 | Improvements Assessment | £411,329 |
| Land Assessment | £408,566 | Total Assessment | £819,896 |
PROPERTY TAXES
Sale Advisor
Sale Advisor
David Garcia, Head of Asset Management
Mr. Garcia previously worked at Kilroy Realty Corporation as Director of Asset Management, overseeing the management and leasing of approximately 2.8 million square feet office and industrial properties located in the Los Angeles region. Prior to Kilroy, Mr. Garcia worked for The Voit Companies as General Manager of the 2.3 million square foot Warner Center project, located in Woodland Hills, California.
Joining Sandstone Properties in 2003, Mr. Garcia currently oversees the day-to-day corporate operations of managing and leasing 47 commercial buildings totaling over 3 million square feet. Additionally, Mr. Garcia contributes to the evaluation of acquisition opportunities and subsequent due diligence review.
Presented by
Jack in the Box | 1605 E Highland Ave
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