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Papa John’s in Chesapeake, VA | Absolute-Net Lease

359 S Battlefield Blvd, Chesapeake, VA 23322, USA
$1,001,031

Description

Marcus & Millichap is pleased to offer this Papa John’s property with an absolute-net lease with zero landlord responsibilities.
Papa John’s Pizza is an American restaurant company. It runs the third largest take-out and pizza delivery restaurant chain in the world, with headquarters in Jeffersontown, Kentucky, a suburb of Louisville. Its slogan is “Better Ingredients.
Better Pizza. Papa John’s.” Internationally, there are over 4,600 Papa John’s establishments, including over 3,200 in the U.S. and the remainder spread among 34 other countries. In September
2012, Papa John’s Pizza opened its 4,000th restaurant, in New Hyde Park, New York.

  • Absolute Triple-Net
  • Zero Landlord Responsibilities
  • Experienced Franchisee
  • Ample Parking
  • Single Tenant Net Leased Asset
  • Two Percent Annual Bumps
  • Adjacent to Walgreens
  • Multiple Schools surrounding the property
  • Multiple points of Ingress and Egress
  • Population Increased by Twenty Two Percent
  • Average HH Income $106,640 within 3 Miles

Property Documents

  • City: Chesapeake
  • State/county: Virginia
  • Zip/Postal Code: 23320
  • Country: United States

Detail

  • Price: $1,001,031

Additional details

  • CAP Rate: 6.75%
  • NOI: $67,569

Features