It is a fast-food restaurant investment in one of the small towns east of Lubbock, Texas. Description
The total area of a single-storey building is 271 m².
The plot of 1,254 m².
The restaurant was constructed in 1970 and now is in good overall condition.
The property is fully leased out to a major tenant.
Absolute income is 49,720 $.
The current yield of 7,1%.
The tenant is Dairy queen.
Dairy queen was founded in 1940 and now has more than 6,000 branches in 27 countries and constantly growing.
The NNN lease agreement is signed for 20 years until 2027 with extension options for 4x5 years. There is a 10% indexation of rental rate each 5 years.
All operating costs are borne by the tenant.
The property is situated in the main street in the center of town.