About This Restaurant
Investment Highlights
Long-Term, 20-Year Absolute Triple Net (NNN) Lease One (1), Five (5)-Year Tenant Renewal Options, Bringing the Potential Lease Term to 25 Years One-and-Three-Quarters Percent (1.75%) Rental Increases Occurring Annually
Executive Summary
NNN Pro Group is pleased to present the exclusive listing for a Shari?s Restaurant located at 221 Bravo Terrace SE in Port Orchard, Washington. The site consists of roughly 3,896 rentable square feet of building space on estimated 1.00-acre parcel of land. This Shari?s Restaurant is subject to a 20-year absolute triple-net (NNN) lease, which has approximately 16.5 years of lease term remaining. The annual rent is $215,630 as of the October rental increase and is scheduled to increase by 1.75% annually throughout the base term and in the 1, 5-year renewal option.
Property Details
- Sale Type Investment NNN
- Property Type Retail
- Property Subtype Restaurant
- Building Size 3,896
- Building Class B
- Year Built 1999
- Price 3,317,387
- Price Per SF 851
- Cap Rate 6.50
- NOI 215,630
- Tenancy Single
- Building Height 1 Story
- Building FAR 0.09
- Land Acres 1.00 AC
Amenities
- Freeway Visibility
- Pylon Sign
- Signage
Property Taxes
| Parcel Number | 5458-000-004-00-02 | Improvements Assessment | $335,390 |
| Land Assessment | $914,360 | Total Assessment | $1,249,750 |
| Date Created: | 2024-07-16 04:23:48 | Last Updated: | 2024-07-16 04:23:48 |
| Address: | 221 Bravo Ter , Port Orchard, Washington, 98367 | ||