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

  • $1,001,031
Papa John's, 359, South Battlefield Boulevard, Great Bridge, Chesapeake, Virginia, 23322, United States of America

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

Papa John's, 359, South Battlefield Boulevard, Great Bridge, Chesapeake, Virginia, 23322, United States of America
  • $1,001,031

Overview

Property ID: 18601
  • Property Type
  • Fast Food Properties

Description

Located at 359, South Battlefield Boulevard, Chesapeake, Virginia, this Papa John’s property comes with an absolute net lease that includes zero landlord responsibilities. The subject property is strategically positioned adjacent to Walgreens. The immediate area has an average annual household income of over $106,640. The current lease includes a 2% hike in rent every year. 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.

Property Details – 

  • Property Type – Fast Food Property
  • Property Status – To Be Available Soon
  • Location – Papa John’s, 359, South Battlefield Boulevard, Great Bridge, Chesapeake, Virginia, 23322, USA
  • Year of Construction – N/A
  • Lease Type – Absolute Net Lease
  • Lease Expiration – 7 years 8 months
  • Property Size – N/A

Details

Updated on April 24, 2020 at 11:54 am
  • Price: $1,001,031
  • Property Type: Fast Food Properties
  • Property Status: Coming Soon
  • Cap Rate: 5.39%
  • Lease Expiration: 7 years 8 months
  • NOI: $54,000
  • Tenant: Papa John’s
  • Address Papa John's, 359, South Battlefield Boulevard, Great Bridge, Chesapeake, Virginia, 23322, United States of America
  • City Chesapeake
  • State/county Virginia
  • Zip/Postal Code 23322

Contact Information

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Ronnie Issenberg
  • Ronnie Issenberg

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