Acquired in late 2021, this net leased Jack in the Box has 5 years remaining on an absolute NNN lease. The lease is guaranteed by Jack in the Box corporate and features no management or maintenance responsibilities for the landlord. The OneV Capital team visited the property and was able to gather enough information to determine that this location was experiencing strong store sales, which provides strong certainty for lease renewal in 2026.
This property is located at a signalized, corner location on a main retail thoroughfare with close proximity a number of other retail tenants- the property also is surrounded by single family homes which provides for strong and recurring patronage to the subject property.
OneV Capital plans to hold this property long term. Overall rent for the property is very low and while renewal probability is high due to strong store sales. The intrinsic value of the property is strong which provides for an excellent opportunity to re-tenant the property in the future for a better return.