Restaurant with a chain tenant.
Description
A freestanding building of 792.5 m².
The cost of the facility is 4,768,960 $.
The absolute annual income is 278,984 $.
The current yield of 5,85%.
Fully let.
About tenant:
- American casual dining restaurant chain
- operations in USA, Canada, Malaysia, Saudi Arabia, the UAE, Qatar, Mexico, and Japan
- 705 locations worldwide
This property is subject to a 25-year triple-net (NNN) lease, with roughly 21 years remaining on the lease.
NNN lease is the most common type of lease in case of long-term contracts. The owner takes a lease ”in triple size, “ that is, without deduction of tax, insurance and maintenance costs (these costs are contractually borne by the tenant). The triple net lease agreement is aimed at saving the lessor from unnecessary costs, additional work and thereby increase the profitability of real estate.
The rent is scheduled to increase by two percent annually, including through the four, five year tenant renewal options.
The facility is located in Dutchess County of New York State. The population of the county is about 300 thousand people.
There is a restaurant, a cafe, a tourist center, a climbing center, a wellness center, a body shop and a car workshop. In front of the restaurant you can find a bus stop (1 minute walk).
