Property details
Lease Commercial Property, Mountain - Prairie Region
Property Description
Lease Commercial Property
Lease Commercial Property with Burger King as the commercial tenant on the lease. In order to lease commercial property like this to a strong tenant, the commercial property must be located in a strong area. Other commercial property in the area includes a major University Medical Center, several hospitality properties, KFC, McDonald’s, Taco Bell, a High School and a Elementary School.
Why do restaurant tenants like to Lease Commercial Property near schools?
When a restaurant tenant decides to lease commercial property near schools, a big reason is to attract a younger crowd who find the food affordable.
Other property related to Lease Commercial Property
» Search for all properties related to Lease Commercial Property types by using our PROPERTY SEARCH, expand the Property Types, then check the boxes for "Single Tenant" and "Ground Lease".
Images
Highlights
- Status:
- Available
- Price:
- $1,637,352
- PSF:
- $493
- Cap Rate:
- 7.25%
- Annual Rent:
- $118,708
- Rent Increases:
- 1.50% increases beginning Lease Year 2 and every LY thereafter
Property Information
- Building Size:
- 3,322 sq.ft.
- Property Type:
- Single Tenant
- Industry Type:
- Restaurant
- Units/Spaces:
- 1
- Year Built:
- 1984
- Land Area:
- 25,564 sq.ft.
- Purchase Tenure:
- Fee Simple
Lease information
- Tenant:
- Burger King
- Lease Type:
- NNN
- Lease Commencement:
- 3/31/2006
- Lease Expiration:
- 3/31/2026
- Lease Term:
- 20 years
- Years Remaining:
- 18 years
- Landlord Responsibilities:
- None-Absolute Triple Net Lease
- Options:
- 2 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.