NNN Lease Investment Opportunity For Sale

Retail-Commercial for Sale
Catylist Listing ID: 30151483
Property Subtypes: Restaurant
Building Size (RSF): 8,706 SF
Gross Building Area: See Agent
Sale Price: $1,892,000
Unit Price: $217.32 PSF
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 6.5%
Last Updated: 10/19/2017

Overview / Comments

Property Features:
Approximate Square Footage: 8,706
Built: 1967; Remodeled 2014
Land: 62,160 SF
Tenant: Pizza Properties, Inc.
Lease Expiration Date: 12/31/2020
Current NOI: $123,017.00

Triple Net Lease with reimbursements Renewal Options; (Two):
1/1/2021 – 12/31/2025 $135,318.00
1/1/2026 – 12/31/2030 $148,850.00

Lease originated in 1992. Franchise re-invested substantial capital into FF&E at time of last renewal, including roof replacement, exterior remodeling, parking resurfaced, and interior upgrades to plumbing, electrical and more.

Cap Rate: 6.5%

Attachments & Media

Additional Details

Nearest MSA: Las Cruces
County: Dona Ana

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 14,587 78,225 109,352
Median Age: 38.04 33.15 35.1
Households: 6,402 31,311 43,799

Contact

Photograph of Listing Agent

William C Shattuck

NAI 1st Valley Realty CARNM CIE Member
Photograph of Listing Agent

Jacob Slavec

NAI 1st Valley CARNM CIE Member
© Copyright Commercial Association of REALTORS® - New Mexico. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Commercial Association of REALTORS® - New Mexico nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.