This is a net leased Jimmy John’s restaurant with 14 years left on the current lease term. It’s being offered at a 6.25% cap rate. There are 3% annual increases in the lease. The lease calls for minimal landlord responsibility which is limited to major structural and roof. Tenant is responsible for all other maintenance and operating expenses.
Ground Zero location for a restaurant.
Jimmy John’s is located in the heart of Willmar’s commercial corridor on US Highway 71 – Business Route, (First Street South). Jimmy John’s is flanked by the Willmar Elementary and Middle schools, two blocks to the east and west respectively, as well as all of the typical retail players including Super Walmart, Walgreens, Aldi, Menard’s, Runnings, Dunn Brothers, Slumberland Furniture, Cashwise Foods, and the Kandi Mall, Willmar’s premier shopping mall. In addition, there are CentraCare medical facilities located on the north and south end of this commercial strip.
The Average Daily Traffic (ADT) count in front of Jimmy John’s is 15,600 vehicles as of 2018. First Street South is a four-lane thoroughfare with a center turn lane for ease of access and smooth traffic flow.