NNN Lease Peter Piper Pizza

Retail-Commercial for Sale
Catylist Listing ID: 30708576
Property Subtypes: Free-Standing Building, Restaurant, Street Retail
Building Size (RSF): 12,500 SF
Gross Land Area: 2.33 Acres
Sale Price: $2,317,000
Unit Price: $185.36 PSF
Has Drive-Thru? Yes
Property Use Type: Net Leased Investment (NNN)
Building Name: Peter piper Pizza
Usable Size (USF): 12,500 SF
Sale Terms: Cash to Seller
Cap Rate: 6.75%
Average Occupancy Rate: 100
Last Updated: 6/16/2021

Overview / Comments

This property is a direct lease with Peter Piper Inc. and is an absolute NNN Corporate Lease with Peter Piper Inc., a subsidiary of CEC Entertainment. Peter Piper has over 120 locations in four states and Mexico. The building was constructed in 2006 for Peter Piper and they have been the only tenant. Located in busy neighborhood with Drive- Thru Pick-up. The property is leased until early 2027 with 1-5 year option with built in increases. The NOI is $168,000 per year throughout the initial lease term.

Attachments & Media

Current Tenants

Tenant Business Name Peter Piper Pizza
Industry Type Retail Trade
Is Renting? Yes
SF of Space Occupied 12,500 SF
Current Rent $14,000 PSF (Annual)
Lease Expiration 1/0031
Escalations Flat rate until options are exercised
Options 2-5 year terms

Additional Details

Nearest MSA: Albuquerque
County: Bernalillo
Submarket/Township: West Mesa
Tax ID/APN: 101206424943021201
Zoning: NR-BP - Non-residential: Business Park
Retail Clientele: General, Family, Recreation
Property Located Between: Golf Course & Paseo Del Norte
Property Visibility: Excellent
Largest Nearby Street: Golf Course
Traffic/Vehicle Count: 25,500
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Good
Year Built: 2006
Roof Type: Flat
Construction/Siding: Steel Frame
Exterior Description: Stucco exterior with a drive through and plenty of parking.
Parking Type: Surface
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Package Unit
Zoning Description: NR-BP Non Residential Business Park
Water Service: Municipal
Sewer Type: Municipal
Easements: Ingress/Egress, Utilities
Land Ownership: fee simple
Legal Description: Tract 5-D3-A of Paradise Valley, as the same is shown and designated on the plat thereof, filed in the office of the Country Clerk of Bernailllo County New Mexico on September 19, 2006 in volume 2006C Folio 286

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 13,527 84,412 189,370
Median Age: 39.55 36.84 38.17
Households: 5,280 32,523 75,044

Contact

Photograph of Listing Agent

Richard Hanna

Hanna Commercial, LLC CARNM CIE Member
Photograph of Listing Agent

Kristi McNair

Hanna Commercial, LLC CARNM CIE Member
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