It is a fast-food restaurant investment in Amarillo, Northern Texas. Description
The total area of a single-storey building is 740 m².
The plot of 8,094 m².
The restaurant was constructed in 1999 and now is in excellent condition.
The property is fully leased out to a major tenant.
Absolute income is 119,790 $.
The current yield of 6%.
The tenant is Logan's Roadhouse.
Logan's Roadhouse was founded in 1991 and now has 230 branches in 23 states and constantly growing.
The NNN lease agreement is signed for 20 years until 2019 with extension options 2x5 years. Each option includes the indexation of rental rate by 10%.
All operating costs are borne by the tenant.
Location and nearby objects
The property is situated on the primary retail corridor, directly across from a huge shopping mall.
There is a federal highway along, the daily traffic through which exceeds 67,000 vehicles.