Denny's 38681 Tanger Dr

Marcus & Millichap is pleased to offer this outstanding Denny's location for sale in the form of a 20-year sale-leaseback executed at closing. The lease provides for passive income for the investor with zero landlord responsibilities. In addition, the lease provides for an inflation hedge with 7.5% annual rent bumps every 5 years.
Subject underwent a major renovation in September 2022 including: parking lot resurfacing and restriping; new front entrance doors; and new LED parking lot lighting including repainting the poles. This included extensive cosmetic upgrades to the interior including: new booth seating matching the new color scheme; new tables and chairs; new restroom doors, tile and trim; new interior trim and laminate surfaces; decorative screens for booth partitions; new window shades; and new logo behind the front counter. Since the remodel, sales are up over 20%.
The operator has been a Denny's franchisee since 1995. They are a multi-state operator and have eight locations backing this lease.
The immediate area has strong demographics with a household income average of just under $103,000 within 5 miles of the property. The property also benefits from direct visibility to the 37,000+ cars per day traveling on Interstate 35.
This asset along with the Denny's in Roseville are available together or individually. Sales have been strongly bouncing back from COVID increasing year over year more than 20% from 2022 to 2023.
NOTE: There is an additional adjacent buildable lot potentially available for purchase. Inquire with broker for details.