Property details
California Sale Lease Back, Pacific West Region
Property Description
• New 10-Year NNN Lease with 3% Annual Increases
• Pride of ownership
• Located in the heart of a famous California Entertainment District
• Located across from a brand new Hotel and Luxury Residents
• Located one block from a very popular California attraction
• Across from a New Whole Food Market
• Regional credit tenant with famous and well know location
Successful restaurant and nightclub sale-leaseback for sale. "Great food, Unique entertainment, and Sexy surroundings." This will be their second property – the first one is very well known and located in major California city as well!
Offering the highest CAP Rate and only Historical Property available on the market in this famous area!
Images
Highlights
- Status:
- Available
- Price:
- $6,123,000
- PSF:
- $686
- Cap Rate:
- 7.00%
- Annual Rent:
- $428,640
- Rent Increases:
- Annual CPI or 3%
11/2007 – 10/2009$4.00 NNN
11/2009 – 10/2011$4.25 NNN
11/2011 – 10/2013$4.35 NNN
11/2013 – 10/2015$4.45 NNN
11/2015 – 10/2017$4.55 NNN
Property Information
- Building Size:
- 8,930 sq.ft.
- Property Type:
- Net Lease
- Industry Type:
- Restaurant
- Units/Spaces:
- 1
- Purchase Tenure:
- Fee Simple
Lease information
- Tenant:
- Inquire
- Lease Type:
- NNN
- Lease Commencement:
- 11/1/2007
- Lease Expiration:
- 10/31/2017
- Lease Term:
- 10 years
- Years Remaining:
- 8 years
- Landlord Responsibilities:
- None - NNN
- Options:
- Two 10 years option to extend
Existing financing information
- Original loan amount:
- $3,500,000
- Interest rate:
- 7.0%
- Amortized over:
- 30 years
- Annual Cash Flow:
- $428,640
- Cash on Cash Return:
- 16.34%
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.