Absolute NNN Golden Corral | Corporate Guarantee | Las Cruces, NM
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Free-Standing Building, Restaurant
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||Net Leased Investment (NNN)
||Cash to Seller
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
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