Under Contract
Jim N' Nick's Ground Lease
For saleUnder contract4625 Hwy 90, Pace, FL 32571
Property type
Retail
Price
$3,960,000
Building size
5,160 sf
Year built
2025
Lot size
1.27 Acres
CAP
6.25%
Net Operating Income
$247,500
Property description
Franklin Street is pleased to offer for sale this Jim N' Nick's corporate ground lease in Pace, Florida. Pace is a bedroom community to Pensacola, which has a fast growing population of more than 500,000 residents in the metropolitan. The region set records in tourism, with over 2.5 million visitors and a $2 billion economic impact in recent years, supported by the Pensacola International Airport. The corridor the property is on has experienced a recent boom of national retailers including Aldi, Longhorn, Buffalo Wild Wings, Wendy's, and Daybreak Market all opening within the last two years. The Jim N' Nick's location fronts a major highway which attracts 43,500 vehicles per day. Daily traffic generators on the corridor include Publix, Home Depot, Lowes, Walmart, Target, and schools. Jim N' Nick's is owned by Roark Capital, a private equity company with $41B AUM, who owns other major brands including Dunkin', Arby's, Buffalo Wild Wings (via Inspire Brands), Jimmy John's, Sonic, Jamba, CKE Restaurants (Carl's Jr., Hardee's), and many auto service (Driven Brands) and fitness (Orangetheory, Anytime Fitness) businesses. Jim N' Nick's has seen substantial sales growth over the last few years and their addition of drive thru's to new units has paid off with increased sales per unit. They plan to add 30+ locations over the next 3 years to add to their growing unit count. BROKER OF RECORD Darron Kattan Florida BOR License No. BK3256503 Firm License No. CQ1032352 813-839-7300 FSIVS@FranklinSt.com Franklin Street Real Estate Services LLC
Property highlights
- New 15-Year Lease With Rapidly Growing Concept (61+ open locations)
- Very Strong Sales Per Unit: $4M+ AUV up 14.6% from the previous year
- Drive Thru Location: 60% of revenue coming from off-premises (drive-thru, takeout, delivery)
- Excellent visibility to 43,500 VPD and adjacent to major big box retail centers driving traffic to the corridor
- Growing Panhandle Market: 10% population growth expected over the next 5 years
- Main Retail Corridor Surrounded by National Retailers: Target, Home Depot, Dick's Sporting Goods, Publix, Walmart, Aldi, TJMaxx, Lowes, Petsmart, among others
- Absolute NNN Ground Lease Lease Structure: No landlord responsibilities
- Built-in 10% Rental Increases Every 5 Years