Taco Johns | Stevens Point WI
1616 Academy Avenue, Stevens Point, WI 54481
Price: $882,500
Status: Sold
Cap Rate: 5.09%
Year Built: 2019
NOI: $45,000
Lot Size: 0.92 acres
Price Per Foot: $438
Lease Type: NNN Ground Lease
Remaining Term: 14 Years
GLA: 2011 sqft
Property Intro
Lee & Associates is pleased to exclusively offer for sale the fee simple interest in a Taco Johns ground lease property located in the city of Stevens Point, WI (the “Property”). The building consists of a 2,011-square-foot retail building with double drive-thru lane and outdoor patio seating. The property was built in 2019 to the specifications of Taco John’s latest prototype façade.
The subject property is leased to Taco John’s, one of the largest Mexican quick-service restaurant brands in America, operating and franchising nearly 400 restaurants in 23 states. The new absolute NNN ground lease has 14 years remaining and ideally there are no Landlord management responsibilities whatsoever. The lease features a 7.5% rent increases starting in year 11 and calls for (5) 5-year renewal options, providing an investor with an ideal passive investment with rent growth.
investment highlights
- TACO JOHN’S: ONE OF THE LARGEST MEXICAN QSR BRANDS IN AMERICA • 400 RESTAURANTS IN 23 STATES • STRONG OPERATOR (28 LOCATIONS IN 6 STATES)
- The subject property is leased to Taco John’s, one of the largest Mexican quick-service restaurant brands in America, operating and franchising nearly 400 restaurants in 23 states. Parent company, Pentex Restaurant Group, currently operates 28 successful Taco John’s locations in six states (Illinois, Indiana, Wisconsin, Minnesota, Michigan, and South Dakota) and has grown to over 700 employees.
- 14 YEARS REMAINING ON ABSOLUTE NNN GROUND LEASE • 100% PASSIVE INVESTMENT WITH NO LL RESPONSIBILITIES • RENT GROWTH
- The new absolute NNN ground lease has 14 years remaining and ideally there are no Landlord management responsibilities whatsoever. The lease features a 7.5% rent increases starting in year 11 and calls for (5) 5-year renewal options, providing an investor with an ideal passive investment with rent growth.
- NEW 2019 CONSTRUCTION • TACO JOHN’S LATEST PROTOTYPE DESIGN • DOUBLE DRIVE-THRU LANE WITH OUTDOOR PATIO SEATING
- Built in 2019, the building consists of a 2,011-square-foot retail building built to the specifications of Taco Johns latest prototype façade. The property features a double drive-thru lane and outdoor patio seating.
- SHADOW ANCHORED BY TRIG’S GROCERY STORE • ADJACENT TO STEVENS POINT HIGH SCHOOL & SENTRY INSURANCE HEADQUARTERS • HIGHLY VISIBLE LOCATION ON MAJOR TRAVEL CORRIDOR
- The subject property is ideally located at the intersection of Academy Ave & Hwy 51 (Business 51/Division St), next to the Stevens Point High School (1,499 Students grades 10-12), Sentry Insurance headquarters, and adjacent to Trig’s Market & Deli, the major grocery store in the area. This corridor is the main traffic corridor through Stevens Point, connecting commuters to/from Interstate 39 to the north/east and WI State Route 54 to the south.
- LOCATED JUST HALF MILE FROM UNIVERSITY OF WISCONSIN-STEVENS POINT (8,150+ STUDENTS) • TOP PUBLIC MIDWESTERN UNIVERSITY IN THE COUNTRY
- The Taco John’s is located just a half mile from the University of Wisconsin-Stevens Point (“UWSP”) campus, with an enrollment of 8,150 students and more than 400 faculty and teaching staff. UWSP has consistently been named one of the Top Public Midwestern Universities in the U.S. News and World Report, was named to the 2018 Princeton Review Green College Honor Roll, and has completed more research doctorates in the last 10 years than any other UW regional university.
- LOCATED IN STEVENS POINT • HEART OF CENTRAL WISCONSIN • DOWNTOWN POPULAR WITH COLLEGE STUDENTS • HEADQUARTERS TO DELTA DENTAL, SENTRY INSURANCE, AIG, AND ASSOCIATED BANK
- The subject property is located in Stevens Point, WI, which is the county seat of Portage County, in the heart of Central Wisconsin. Stevens Point is the largest city in the county with an estimated population of nearly 27,000.
Several companies have corporate headquarters in the city, including Delta Dental of Wisconsin, Berkshire Hathaway Travel Protection, Sentry Insurance, AIG, and Skyward, a software company specializing in K-12 school and municipality management, which employs 400 workers at its 182,000-square-foot facility in Stevens Point. Additionally, Associated Bank and Donaldson Company operate regional headquarters in Stevens Point. Other major employers include Canadian National Railway, Donaldson Company, Hershner’s, Lands’ End, Ascension St. Michael’s Hospital, Roundy’s Corporation, Trig’s, United Parcel Service, Verso Corporation, Whiting Paper, Copps Food Center, Aspirus Stevens Point Hospital, and Marshfield Clinic Stevens Point.
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