Description

Carl's Jr. is a 3,669 SF retail property for sale at 1868 West 1800 North in Clinton, UT. The fully occupied restaurant sits on 0.8 acres as an outparcel to Park Plaza, placing the investment alongside an established shopping center.

Built in 2009, the restaurant has a drive-thru window and direct ingress and egress from West 1800 North. Its position as a Park Plaza outparcel gives the tenant a setting shared with national retailers including Walmart Supercenter, Lowe's, Kohl's and Ross. Carl's Jr. operates under an absolute net ground lease signed by Carl Karcher Enterprises, Inc. The tenant is responsible for property taxes, insurance, utilities, maintenance, and roof and structure expenses, a lease structure that limits the owner's operating responsibilities.

Park Plaza is a 525K SF shopping center ranked in the top 15% of shopping centers nationwide for annual visits. That retail setting gives the restaurant a connection to customers already visiting the center. Clinton is approximately 2 miles from Hill Air Force Base, a major local employer, and has access to Interstate 15. For a buyer, the outparcel position and direct street access are distinct parts of the property's location story, alongside the wider Clinton trade area.

The asking price is $2,155,000, with $113,135 in NOI and a 5.25% cap rate. The lease has 2+ years remaining and four, 5-year extension options, with 10% rent increases at each option. That term gives an investor current income while keeping the next lease decision within a defined horizon. The ground-lease structure and tenant expense responsibilities are central to the ownership proposition; the option schedule is central to its longer-term income profile. Review the Offering Memorandum for the transaction details.