Property details

Blockbuster and Papa John's, Southeast Region

Property Description

Net leased, Blockbuster/Papa John's investment opportunity. A perfect 1031 exchange property, this offering consists of a brand new 5-year NN corporate lease consisting of a 7,242 square foot building on 0.89 acres developed in 1996. The property is strategically positioned at the entrance to a Kroger anchored center on a Highway. The subject property is located one mile north of a Medical Center and Interstate-20. The property is at a corner location at a signalized intersection and is an outparcel to a 64,000 square foot Kroger grocery store. The property has a strong credit tenant with favorable lease terms.

National retailers and restaurants represented in the trade area include: Kroger, ALDI, Walgreen's, Quizno's, Auto Zone, Dollar Tree, Family Dollar and Dollar General.

Images

Request property package

Highlights

Status:
Available
Price:
$1,407,500
PSF:
$194
Cap Rate:
9.50%
Annual Rent:
$133,717
Rent Increases:
10% Increases
 

Property Information

Building Size:
7,242 sq.ft.
Property Type:
Net Lease
Industry Type:
Retail
Units/Spaces:
2
Year Built:
1996
Land Area:
0.89 acres
Purchase Tenure:
Fee Simple
 

Lease information

Tenant:
Papa John's & Blockbuster Video
Lease Type:
NN
Lease Commencement:
6/1/2007
Lease Expiration:
5/31/2012
Lease Term:
5 years
Years Remaining:
3 years
Landlord Responsibilities:
Structure & Roof
Options:
Two 5 Year Options
 

Existing financing information

N/A

The information contained herein contains confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient will be prohibited. The information contained herein has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about the accuracy or completeness of the information. As a buyer, it is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this property to you depends on factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. We have no knowledge of this offering other than the information received from Seller or their representatives. We are neither your agent or an agent for the seller. We will not participate in the negotiation of the purchase price or attend the showing of this property. As a buyer, you will be required to indemnify us and hold us harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this property.