Property details

Triple Net (NNN) Damon's Grill For Sale, Great Lakes - Big Rivers Region

Property Description

Triple Net (NNN) Damon's Grill For Sale

This is an A+ site is located at a dominant intersection (over 30,000 VPD) in the market and offers excellent egress and ingress to two major Roads.

The property is located directly in front of a 238-room Crown Plaza Hotel, providing a built-in customer base for the restaurant.

Top Generators are an International Airport with over 7,600,000 passengers, an International Expo Center with over 2,000,000 visitors, the County Fairgrounds with over 500,000 visitors, a College with 4,000 students, and a Hospital with 1,800 employees.






About the Tenant

Damon’s Grill is a full-service, casual dining restaurant brand emphasizing prime rib, grilled steaks, chicken, seafood, salad and Damon’s award-winning ribs. Damon’s guests enjoy a quiet dining room, or can enjoy Damon’s high-energy Clubhouse, with a state-of-the-art multi-screen entertainment system offering sports, network programming and interactive games. Currently, there are five Damon’s in three states, with more in the pipeline as Damon’s Grill aggressively seeks new franchisees in new markets.

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Highlights

Status:
Available
Price:
$2,795,000
PSF:
$360
Cap Rate:
6.29%
Annual Rent:
$176,000
Rent Increases:
11-year lease with 1.5% annual rent increases in years 3 & 4 of the lease term, 2% annual increases thereafter
 

Property Information

Building Size:
7,759 sq.ft.
Property Type:
Net Lease
Industry Type:
Restaurant
Units/Spaces:
1
Land Area:
2.00 acres
Purchase Tenure:
Fee Simple
 

Lease information

Tenant:
Damon's Grill
Lease Type:
NNN
Lease Commencement:
12/01/2015
Lease Expiration:
12/31/2026
Lease Term:
11 years
Lease Remaining:
8.5 years
Landlord Responsibilities:
None - NNN
Options:
Tenant has four 5-year options to renew with 2% annual increases
 

Existing financing information

N/A

The information contained herein contains confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient will be prohibited. The information contained herein has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about the accuracy or completeness of the information. As a buyer, it is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this property to you depends on factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. We have no knowledge of this offering other than the information received from Seller or their representatives. We are neither your agent or an agent for the seller. We will not participate in the negotiation of the purchase price or attend the showing of this property. As a buyer, you will be required to indemnify us and hold us harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this property.