Property details
Damons Grill For Sale, Northeast Region
Property Description
Damons Grill For Sale
Damons Grill for sale and of best Damons Grill performers in the chain. This Damons Grill for sale is located on a pad in the restaurant park of the dominant shopping center/mixed use development in the region. High income area. Easy access. Co-Tenants include Safeway, Marshalls, Home Goods, LA Fitness, Wegmans, Target, and Theatres.
Damon's International, Inc. founded in 1979 now with over 80 locations was acquired in 2008 by G&R Acquisitions which also owns the Max & Erma's chain. Both chains total over 250 restaurants
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Images
Highlights
- Status:
- Sold
- Price:
- $4,576,000
- PSF:
- $565
- Cap Rate:
- 7.25%
- Annual Rent:
- $331,700
- Rent Increases:
- every 5 years
Property Information
- Building Size:
- 8,100 sq.ft.
- Property Type:
- Net Lease
- Industry Type:
- Restaurant
- Units/Spaces:
- 1
- Land Area:
- 0.35 acres
- Purchase Tenure:
- Fee Simple
Lease information
- Tenant:
- Damon's Grill
- Lease Type:
- NNN
- Lease Commencement:
- 05/01/2004
- Lease Expiration:
- 04/30/2024
- Lease Term:
- 20 years
- Lease Remaining:
- -0.9 years
- Landlord Responsibilities:
- NONE - Absolute Net leased - NO landlord responsibilities.
- Options:
- 4 options of 5 years each
Existing financing information
- Interest rate:
- 0.0%
- Amortized over:
- 0 years
- Annual Cash Flow:
- $331,700
- Cash on Cash Return:
- 7.25%
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.