Jack in the Box - Corporate - 24 Hour - NNN Ground Lease
Jack in the Box - Corporate - 24 Hour - NNN Ground Lease
​Jack in the Box has already Committed to a Full Four-Wall Rebuild, which is a Major Vote of Confidence in the Site. Here are the Key Details:
Approved: January 2025
Permits Issued: February 2025
Construction Start: September 2025
Completion: December 2025
Corporate Guarantee | Single Tenant | NNN | Ground Lease | Jack in the Box Founded in 1951
Excellent Location: 3-Way Signalized Intersection | Dense, Affluent Demographics: 850,860 people with Average Household Incomes over $179,000 within a 5-Mile Radius
.16-Acre Parcel with Stand-Alone Jack in the Box Restaurant and Drive-Through
19.2 years Remaining including Options | 9.2 Years Remaining on the Current Ground Lease | Two, Five-Year Options to Renew
Increases: Every 5 years-CPI Calculation
Directly across from Lowes Home Improvement Center
Open 24 Hours | Ideal-Management-Free Investment
Seasoned Location with a 38 Year Track Record | Over 2200 Locations Throughout the U.S.
Built 1986 | Strong Historical Occupancy -38 years
Over 2200 Locations Throughout the U.S. | Jack in the Box in Growth Mode expanding in several states
The 2,977 +/- SF building is not included in the sale. This offering is for the ground lease only,
Jack in the Box Founded in 1951 | Over 2200 Locations Throughout the U.S.
Ideal-Management-Free Investment
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370 Bayshore Blvd., San Francisco, CA 94124
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Request Offering Memorandum
Market Summary
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Price $1,607,637
Cap Rate 5.25%
NOI $84,506
Rentable SF 2,997 SF
Price per SF $536.42
Year Built 1986
Lot Size .16 Acres
Description
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Marcus & Millichap is pleased to present a Jack in the Box Corporate NNN Ground Lease in San Francisco, CA. This highly visible, two-story restaurant has been occupied by Jack in the Box exclusively since its construction in 1986. The building was originally constructed for Wendy’s, but Wendy’s never occupied the property, and Jack in the Box has been the sole tenant for 38 years. The approximately 2,997-square-foot (building not included in the sale) is a single-tenant building operates for 24 hours a day. The ground lease has 9.2 years remaining, with two (5-year) renewal options controlling the site for 19+ years with rental adjustments every five years, subject to CPI-based increases with a minimum 3% annual escalation and a maximum 5% annual cap.
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This offering is structured with a corporate-guaranteed lease and a franchise operator in place. The lease structure provides stability with synchronized renewal terms, having the same term and number of options across two adjacent ground leases, ensuring operational continuity. Jack in the Box is the lease guarantor. The two ground leases are co-terminus, having the same term and number of options. They are renewed at the same time. The exercise dates are the same. The operator is under a sublease with Jack in the Box Corporate, subject to the master lease. Jack in the Box is the tenant under the lease with the tenant’s franchisee in possession of the Premises pursuant to the provisions of that certain Franchise Lease, dated June 1, 2024.