Cafe Friendly's in a freestanding building.
Description
Total area of the property is 279 m²
It was built in 1995.
Absolute annual income is 108,392 $.
The current yield of 5.5%.
The tenant is large restaurant chain Friendly's, which is comprised of about 380 branches.
The lease agreement is signed for 20 years with extension options for 4x5 years.
Lease agreement type: Triple Net Lease. The tenant covers all expenses related to the taxes, insurance and maintenance of the property.
The agreement stipulates the rental payment indexation at 10% every 5 years.
Restuarant situated in one of the densely populated and wealthiest suburbs of New York. There are shops, schools and colleges in close proximity to the property. The hospital located within 12 minutes drive, large University — within 25 minutes drive.
