Property details
Exchanges, Southwest Region
Property Description
Exchanges will find this property in a excellent location at an entrance a 1.2 million sq. ft. Mall (largest mall in 34 counties). A Lowest Risk" D&B credit rating for the tenant makes this property a strong candidate for 1031 exchanges.
Why are Exchanges of real estate valuable?
Exchanges under section 1031 of the IRS code allows you to exchange a sold property with another property of similar value without paying capital gains taxes at the time of the sale.
Other property related to Exchanges
Images
Highlights
- Status:
- Available
- Price:
- $3,600,000
- PSF:
- $304
- Cap Rate:
- 8.06%
- Annual Rent:
- $270,000
- Rent Increases:
- 7.5% rent increase each 5 years. rent amount includes seller subsidy from close up to next rent bump in Dec 2009
Property Information
- Building Size:
- 11,839 sq.ft.
- Property Type:
- Net Lease
- Industry Type:
- Restaurant
- Units/Spaces:
- 1
- Land Area:
- 2.84 acres
- Purchase Tenure:
- Fee Simple
Lease information
- Tenant:
- Furr's Family Dining
- Lease Type:
- NNN
- Lease Commencement:
- 12/3/2004
- Lease Expiration:
- 12/2/2024
- Lease Term:
- 20 years
- Years Remaining:
- 16 years
- Landlord Responsibilities:
- None - NNN ideal for 1031 Exchanges
- Options:
- 4, 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.