1500 Morgan St Kokomo, IN 46901-2509

This exceptional investment opportunity presents a sale-leaseback of a Hardee's restaurant located at 1500 E Morgan St, Kokomo, Indiana. The property boasts a 20-year absolute triple-net (NNN) lease commencing November 1, 2024, and expiring November 1, 2044, with four to five-year renewal options. The 3,522 square foot building sits on a 2.17-acre lot and underwent renovations in 2018. The lease includes a 7.5% rent increase every five years, providing inflation protection. The current annual net operating income (NOI) is $120,000, representing a 6.25% capitalization rate on the $1,920,000 asking price ($545.14 per square foot). The tenant, a franchisee with a proven track record of growth and operating 35 Hardee's locations, is responsible for all property taxes, insurance, and maintenance. The property benefits from a high-traffic location with over 127,000 vehicles per day, situated near Ivy Tech Community College, making it a popular stop for students and truck drivers. Kokomo's significant population growth (31.1% from 2010 to 2020) and the development of a large electric vehicle battery plant further enhance the long-term investment potential. This is a truly passive investment opportunity with substantial upside potential due to the strong tenant, favorable lease terms, and prime location. The property's strong sales significantly exceed the national average for Hardee's. This is a rare chance to acquire a high-performing, long-term net-leased asset in a rapidly growing market.