Colliers International is pleased to offer qualified investors an opportunity to acquire a Checkers Rally’s Drive-In restaurant in Bakersfield California. The property is Checkers’ double drive-thru fast-food restaurant constructed in 2008. The building totals 818 SF and is situated on 10,454 SF of land.
Checkers and Rally’s operates 790 stores in the United Sates and is a nationally known QSR brand. The restaurant has continuously operated at this location since 2008. The current operator, franchisee and guarantor, F & M Restaurants Inc., has operated the restaurant since 2019 and have been in business since 2008 and operates 10 Rally’s and one Checkers restaurant.
The 20-year long-term triple net lease has approximately 13 years and 9 months remaining and features 10% increase every five years. The next increase is scheduled to occur on January 1, 2029. In addition, there are four options to extend the lease term for five years with each option with 10% increase every five years.