Catylist ID:
#30667198
| Catylist Listing ID: | 30667198 |
| Property Subtypes: | Free-Standing Building, Mixed Use, Restaurant, Street Retail, Other |
| Building Size (RSF): | 4,698 SF |
| Gross Building Area: | See Agent |
| Sale Price: | $3,451,327 |
| Unit Price: | $734.64 PSF |
| Property Use Type: | Net Leased Investment (NNN), Investment |
| Sale Terms: | Undisclosed |
| Cap Rate: | Undisclosed |
| Last Updated: | 7/21/2021 |
Overview / Comments
|
TWO BRAND NEW NNN TENANTS Wienerschnitzel is “The World’s Largest Hot Dog Chain” selling over 120 million hot dogs annually. Location is leased to seasoned operator with 20+ units and growing. T-Mobile corporate store. $44.9+ billion annual revenue (2019) publicly traded NASDAQ: TMUS. DURABLE LONG-TERM NNN LEASE STRUCTURES The Wienerschnitzel lease will be a brand new 20-year absolute triple net lease commencing upon the close of escrow with scheduled increases every five years. The T-Mobile lease recently commenced in June 2020 and also includes scheduled increases every five years creating a strong hedge against inflation. STABLE, LONG TERM INVESTMENT Income stability – Two long-term NNN leases provide for income diversity, recent build out to spaces provide for optimal tenant operational functionality. Wienerschnitzel has a drive thru window, allowing for coveted contactless customer service. INFILL LOCATION DIRECTLY OFF OF HIGHWAY 285 Highly visible with attractive architecture along |
Attachments & Media
Additional Details
| Nearest MSA: | Carlsbad-Artesia |
| County: | Eddy |
| Tax ID/APN: | 4-156-126-494-309 |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 11,445 | 24,828 | 28,447 |
| Median Age: | 39.02 | 38.32 | 38.37 |
| Households: | 4,599 | 9,798 | 11,144 |
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