Tenant: Jimmy John’s | Fort Walton Beach, FL Premises: 1,640 SF Renewal Options: 2 x 5 Years
Lease Expiration: 10 Yrs from COE Lease Type: Absolute NNN Rental Increases: 7.5% Every 5 Years
New 10 Year Absolute Triple Net Lease to Begin at The Close of Escrow
Recently Constructed Single Tenant Drive-Thru Situated on Well Located Corner Property in Primary Retail Corridor
Low Price Point with an Attractive $2.54 Rent/SF
7.5% Rent Increases Every 5 Years
Two (2) x Five (5) Year Options to Extend
Personal Guarantee from Franchisee
Location Has Been Operating as a Jimmy John’s for Over 3 Years – Operator is Continuing to Expand into New Locations
High Traffic Counts on Main Highway – Over 41,000 VPD
Nearby Tenants That Include: Popeyes, McDonald’s, Taco Bell, Tijuana Flats, Sherwin Williams, Family Dollar, Ross and Tires Plus
Jimmy John's Franchise, LLC is a franchised sandwich restaurant chain, specializing in delivery. Founded by Jimmy John Liautaud in 1983 and headquartered in Champaign, Illinois, in 30 years, the company has grown to more than 2,500 locations in all states except Alaska, Hawaii, Maine, New Hampshire & Vermont. Jimmy John's has opened approximately 200 locations per year over the past three years. As of 2014, 98% of the locations are franchise-owned.
CNNMoney listed Jimmy John’s as one of ten “Great Franchise Bets.” The company estimates that annual sales can be as high as $1.2 million while net profits can average at about $280,000. Real estate start-up costs are estimated to be between $305,000 and $485,500.