Gulf Port, MS - Checkers

Gulfport, MS

Project Status: Completed

SRS National Net Lease Group is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in an absolute NNN, corporate guaranteed, drive-thru equipped, Checkers investment property located in Gulfport, MS. The tenant, Checkers Drive-In Restaurants, Inc, has signed a brand new 20 year lease with 1 (5-year) option periods to extend. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of the option period, steadily growing NOI and hedging against inflation.

The lease is corporate guaranteed and is absolute NNN with zero landlord responsibilities. The Checkers property is strategically located along E Pass Road (33,000 VPD), a major retail thoroughfare serving the city of Gulfport. The asset is also ideally positioned as an outparcel to a Rouses grocery anchored center, thereby increasing crossover traffic to the subject property. Other nearby national/credit tenants include a Walmart Neighborhood
Market, Lowe’s Home Improvement, Walgreens, CVS Pharmacy, O’Reilly Auto Parts, Dollar General, Dollar Tree, Family Dollar, and more, increasing consumer draw to the subject trade area and promoting crossover shopping. Additionally, the site is just 10 minutes east of the Gulfport-Biloxi International Airport which offers flights to Dallas, Orlando, Atlanta, Houston,
Minneapolis, and more, providing the asset with a direct consumer base to draw from. The 5 mile trade area is supported by a dense population of over 69,300 residents with an average household income of $62,810.

100% Capital. Non-Recourse.

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