Property Details
- Size:
- 7,147 sq ft / 664 sq m
- Sale Type:
- For Sale
- Rental Income:
- $204,176
- Auction:
- No
- Development Opportunity:
- No
- Tenanted:
- Yes
- Property Type:
-
- Hotel & Leisure > Restaurant/Cafe
- Retail > Other
General Summary
• New 15-year, corporate-backed, absolute net lease
• Zero landlord responsibilities
• 2% annual rent increases
• Site anchored by Wal-Mart
List price $2,400,000
Price Per GLA $336.00
Price Per Sq. Ft. $336.00
NOI $204,176
CAP 8.5%
Building Sq. Ft. 7,147
Land Acres 1.64
Occupancy Lone Star Steak
House:
Construction- Class A wood frame construction
Parking: Adequate
Tenant: Lone Star Steakhouse & Saloon is a
casual dining restaurant chain serving steak,
seafood, salad and more.
Net-leased asset occupied by Lone Star
Steakhouse & Saloon on a 15-year, absolute
net lease. The lease calls for no landlord
obligations.
There are 2% annual rent increases and two 5-year
renewal options.
Location
On an exit for a major highway off of a busy interstate.
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