Property details
Chili's, Great Lakes - Big Rivers Region
Property Description
Commercial real estate with Chili's on the lease. Predominant land uses and commercial competitors in the local market include Pier 1 Imports, TGI Fridays, Wal-Mart, Sams Club, Fairfield Commons Mall, Rex and Mens Warehouse.
Chili's restaurants serve freshly prepared appetizers, chicken, beef and seafood entrees, hamburgers and other sandwiches, salads, barbecue ribs, fajitas and other southwestern and American-style cuisine, desserts and a full service bar featuring an array of leading brands and Chili's signature margaritas. Chili's is a recognized leader in casual dining with more than 1,300 locations in 24 countries.
Images
Highlights
- Status:
- Sold
- Price:
- $3,116,130
- PSF:
- $575
- Cap Rate:
- 6.90%
- Annual Rent:
- $215,013
- Rent Increases:
- 1.50% increases beginning LeaseYear 2 and every LeaseYear thereafter
Property Information
- Building Size:
- 5,420 sq.ft.
- Property Type:
- Net Lease
- Industry Type:
- Restaurant
- Units/Spaces:
- 1
- Year Built:
- 1995
- Land Area:
- 55,077 sq.ft.
- Purchase Tenure:
- Fee Simple
Lease information
- Tenant:
- Chili's
- Lease Type:
- NNN
- Lease Commencement:
- 11/1/2007
- Lease Expiration:
- 11/30/2027
- Lease Term:
- 20 years
- Years Remaining:
- 19 years
- Landlord Responsibilities:
- None - Commercial NNN
- Options:
- Four 5 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.