Absolute NNN Golden Corral | Corporate Guarantee | Las Cruces, NM

Retail-Commercial for Sale
Catylist Listing ID: 30171297
Property Subtypes: Free-Standing Building, Restaurant
Building Size (RSF): 11,192 SF
Gross Building Area: See Agent
Sale Price: $3,404,771
Unit Price: $304.21 PSF
Property Use Type: Net Leased Investment (NNN)
Sale Terms: Cash to Seller
Cap Rate: 6.75%
Last Updated: 2/12/2018

Overview / Comments

The subject property is a single-tenant, freestanding Golden Corral restaurant (with a rare corporate guarantee from Golden Corral Corporation) located in Las Cruces, NM The property is situated along Hickory Loop, just off of Interstate 10, the main arterial in Las Cruces There are thirteen firm years remaining on the absolute triple net lease, which has no termination option after year ten unlike some other corporate leases There are no landlord maintenance responsibilities whatsoever, and the lease offers five percent rent increases every five-years during the initial term and in each of the four five-year option periods The lease is corporately guaranteed by privately held Golden Corral Corporation, the #1 ranked Franchisor in the U S among family steakhouses in 2016 by Entrepreneur Magazine for the 20th year Headquartered in Raleigh, North Carolina with 481 restaurants in 41 states including Alaska, the company reported $1 696 Billion in Systemwide Revenue in 2016

Additional Details

Nearest MSA: Las Cruces
County: Dona Ana

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,498 64,200 107,582
Median Age: 40.08 33.05 35.52
Households: 1,432 25,878 43,263

Contact

Photograph of Listing Agent

Matthew Reeves

Marcus & Millichap CARNM CIE Member
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