Property details
Triple Net, Southeast Region
Property Description
• Triple Net property for sale
• NNN Absolute Triple Net O'Reilly Auto Parts store
• Corporate Signature Triple Net
• Strong Triple Net Tent with $1.1 billion net worth
• 20-Year triple net lease
• 3 Five-Year Triple Net Options
Triple Net and brand new. This triple net property is priced FIRM!
The lease dates shown for this triple net property are estimates. Actual dates are subject to verification.
What does Triple Net mean?
Triple net, or NNN, typically means the same thing as Absolute Triple Net in that the income paid to the landlord is net of any expenses.
Properties related to Triple Net
» Search for all properties related to Triple Net by using our PROPERTY SEARCH, expand the Property Types, then check the boxes for "Single Tenant" and "Ground Lease".
Images
Highlights
- Status:
- Available
- Price:
- $1,256,915
- PSF:
- $180
- Cap Rate:
- 7.00%
- Annual Rent:
- $87,984
- Rent Increases:
- Triple Net rent increase in years 11 through 20 to $92,664 (7.37 Cap) and in options
Rent yrs 1-10 $7,332.00/mo
Rent yrs 11-20 $7,772.00/mo
Property Information
- Building Size:
- 7,000 sq.ft.
- Property Type:
- Single Tenant
- Industry Type:
- Automotive Parts / Repair
- Units/Spaces:
- 1
- Year Built:
- 2008
- Purchase Tenure:
- Fee Simple
Lease information
- Tenant:
- O'Reilly Auto Parts
- Lease Type:
- NNN
- Lease Commencement:
- 5/15/2008
- Lease Expiration:
- 5/15/2028
- Lease Term:
- 20 years
- Years Remaining:
- 20 years
- Landlord Responsibilities:
- None - Trple Net
- Options:
- 3 5-year options
1st Option $98, 820 annual triple net (7.86% Cap)
2nd Option $104,784 annual triple net (8.37% Cap)
3rd Option $111,072 annual triple net (8.87% Cap)
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.