Property details

NNN Long John Silver's / A&W, Southwest Region

Property Description

Located in an Income Tax Free State!     



LONG JOHN SILVER' S / A&W WITH DRIVE THROUGH

This property has a drive through

Guraranteed by a 42 Unit Operator who operates 42 Long John Silver' s locations

Absolute NNN

Five5-year options

10% rent increases every 5 years

Long Term Lease-14 years

remaining & 4-5 options

Located Right off a major Highway and right next door to a New C-Store, Gas Station and Laundromat

There is approximately $400K loan, which may be assumable if needed.






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Highlights

Status:
Available
Price:
$945,000
PSF:
$425
Cap Rate:
6.50%
Rent Increases:
10% rent increases every 5 years
 

Property Information

Building Size:
2,225 sq.ft.
Property Type:
Net Lease
Industry Type:
Restaurant
Units/Spaces:
2
Purchase Tenure:
Fee Simple
 

Lease information

Tenant:
Long John Silver's / A&W Franchisee
Lease Type:
NNN
Lease Expiration:
07/31/2030
Lease Remaining:
11.6 years
Landlord Responsibilities:
Absolute NNN
Options:
Five5-year options
 

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.