Property details

NNN Net Lease, Southeast Region

Property Description

NNN Net Lease. With over 73 stores, American LubeFast is one of the largest independently owned and operated oil change and preventative maintenance companies in America.

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Highlights

Status:
Withdrawn
Price:
$775,000
PSF:
$388
Cap Rate:
10.74%
Annual Rent:
$83,209
Rent Increases:
( 1st 5 yrs paid $6,300/mo, currently paying $6,930/mo) . 10% rent increase in options
 

Property Information

Building Size:
2,000 sq.ft.
Property Type:
Net Lease
Industry Type:
Auto Parts - Repair
Units/Spaces:
1
Year Built:
1984
Purchase Tenure:
Fee Simple
 

Lease information

Tenant:
American LubeFast
Lease Type:
NNN
Lease Commencement:
12/01/2001
Lease Expiration:
11/30/2011
Lease Term:
10 years
Lease Remaining:
-2.8 years
Landlord Responsibilities:
None
Options:
5 yr option would therefore start on Dec 1, 2011 and commence Nov 30, 2016
1 option for 5yrs at $7,623/mo
 

Existing financing information

Interest rate:
0.0%
Amortized over:
0 years
Annual Cash Flow:
$83,209
Cash on Cash Return:
10.74%

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.