Property details
Lease NNN, Southwest Region
Property Description
• True Lease NNN, no landlord responsibility
• Paying monthly percentage rent
• Great Location
• Strong store sales
• Newly remodel in 2006
• Corporate guaranty
Lease NNN with no responsibility. High traffic on mid block lighted intersection. High density area. 6.5% monthly percentage rent, which the store is paying @ $4,000yr in percentage rent, uncapped in sales price. Sonic has waived their relocation clause which means they can not close or move the store for the primary term. Pure Corporate lease NNN.
Images
Highlights
- Status:
- Available
- Price:
- $795,000
- PSF:
- $646
- Cap Rate:
- 6.80%
- Annual Rent:
- $0
- Rent Increases:
- none, however there is a 6.5% monthly perecentage rent which the store is paying @$4,000 a year in perecentgae rent
Property Information
- Building Size:
- 1,230 sq.ft.
- Property Type:
- Net Lease
- Industry Type:
- Restaurant
- Units/Spaces:
- 1
- Land Area:
- 0.56 acres
- Purchase Tenure:
- Fee Simple
Lease information
- Tenant:
- Sonic
- Lease Type:
- NNN
- Lease Commencement:
- 5/5/2005
- Lease Expiration:
- 5/31/2015
- Lease Term:
- 10 years
- Years Remaining:
- 7 years
- Landlord Responsibilities:
- none
- Options:
- 2-5 year options
Existing financing information
- N/A
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