About This Restaurant
Investment Highlights
Brand New 20-Year Sale-Leaseback Guaranteed by Carrols, LLC | Largest Burger King Franchisee With Over 1,110 Units Triple Net (NNN) Lease with Zero Landlord Responsibilities
Executive Summary
NNN Pro Group is pleased to present the exclusive listing for a Burger King located at 530 Oxbow Road, Palmyra, Maine. The site consists of roughly 3,250 rentable square feet of building space on estimated 0.7-acre parcel of land This investment opportunity is subject to a brand new 20-year Triple-Net (NNN) sale-leaseback with zero landlord responsibilities. The lease will commence upon the close of escrow and will be subject to six (6), five (5) year tenant renewal options. The initial annual rent will be $174,474 and is scheduled to increase by one percent (1.00%) annually starting in year 11 and continuing throughout the base term and option periods. In each option period the rent will increase by one percent (1.00%) annually in years 1 through 3 and the rent will remain flat in years 4 and 5.
Property Details
- Sale Type Investment NNN
- Property Type Retail
- Property Subtype Fast Food
- Building Size 3,250
- Building Class B
- Year Built 2015
- Price 2,791,579
- Price Per SF 859
- Cap Rate 6.50
- NOI 181,453
- Percent Leased 100
- Building Height 1 Story
- Building FAR 0.11
- Land Acres 0.70 AC
Property Taxes
| Parcel Number | PALA-000005-000068-000001 | Improvements Assessment | $213,600 |
| Land Assessment | $562,000 | Total Assessment | $775,600 |
| Date Created: | 2024-07-16 04:16:18 | Last Updated: | 2024-07-16 04:16:18 |
| Address: | 530 Oxbow Rd , Palmyra, Maine, 04965 | ||