Located at 7569, Jefferson Highway, East Baton Rouge Parish, Louisiana, this Papa John’s property comes with an absolute net lease that includes zero landlord responsibilities. The lease consists of a 10% hike in every option period. The immediate area has an average annual household income of more than $105,000. The property sees a traffic count of over 30,000 vehicles per day. More than 220,000 residents live within 5 miles.
Papa John’s Pizza is an American restaurant company. Headquartered in Jeffersontown, Kentucky, the company operates the third-largest pizza takeaway and delivery restaurant chain in the world. The company’s logo says, “Better Ingredients. Better Pizza. Papa John’s.” Papa John’s operates over 4,600 restaurants, out of which more than 3,200 restaurants are located in the U.S., and the rest are spread across 34 other countries. The company opened its 4,000th restaurant in September 2012 in New Hyde Park, New York.
This investment property is suitable for a 1031 exchange.
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