Property details
Ground Lease, Southwest Region
Property Description
Ground Lease pad site positioned in front of a 500,000 s.f. Power center anchored by Target, Home Depot Kohl's, and Lifetime Fitness at the entrance to a desirable master planned community.
This is a 15 year primary term ground lease with rental rate increases in years 6 and 11.
What is a Ground Lease?
A ground lease, in simple terms, is the ownership of the underlying land with someone else owning the bricks and mortar (improvements). The ground is leased by the tenant who pays the owner a ground lease rent.
Properties related to Ground Lease
| Land Lease | Ground Rent | Leased Land |
| Capital One Ground Lease |
» Search for more properties related to Ground Lease by using our PROPERTY SEARCH and checking Ground Lease under Property Types.
Images
Highlights
- Status:
- Available
- Price:
- $2,448,000
- PSF:
- $608
- Cap Rate:
- 5.00%
- Annual Rent:
- $122,400
- Rent Increases:
- Rental rate increases years 6 and 11
Property Information
- Building Size:
- 4,025 sq.ft.
- Property Type:
- Ground Lease (Single Tenant)
- Industry Type:
- Bank / Credit Union
- Units/Spaces:
- 1
- Year Built:
- 2005
- Land Area:
- 1.00 acres
- Purchase Tenure:
- Fee Simple
Lease information
- Tenant:
- Wachovia Bank
- Lease Type:
- Reimbursable NNN
- Lease Commencement:
- 9/26/2005
- Lease Expiration:
- 9/30/2020
- Lease Term:
- 15 years
- Years Remaining:
- 12 years
- Landlord Responsibilities:
- Net Ground Lease (Landlord maintains common area, tenant contributes to CAM).
- Options:
- Four (4) options to renew at 5 yrs. Each with approximately 5% rental increases every 5 years.
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.