Listed by Crye-Leike Commercial Memphis
$1,400,000
5091 Park Avenue
Details
APN 067002 00005C
Property Type Retail
Sub Type QSR/Fast Food
Square Footage 899
Units 1
Cap Rate 6.67%
NOI $93,390
Tenancy Single
Lease Type Absolute NNN
Lease Term 15
Lease Expiration 07/31/2035
Remaining Term 9.2
Rent Bumps Yes
Lease Options 5 year
Price per SqFt $1,557
Year Built 1994
Year Renovated 2022
Buildings 1
Stories 1
Acreage 0.657
Zoning CMU1
Investment Type Net Lease
Lease Commencement 08/01/2020
Ground Lease Yes
Retail | 6.67% CAP | 899 SqFt
Marketing description
bsolute Net Ground Lease for Sale.
New listing: 5091 Park Avenue, fully leased Back Yard Burgers, for sale. Lease is absolute net with no landlord responsibilities. Base term ends 11/30/2035 with below-market rent. Renewal option for an additional 5-year term with 120 days' notice to landlords. Zoned CMU1.
Please see full Offering Memorandum for full details.
Listing Contacts
Listed by Crye-Leike Commercial Memphis
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$93,390.00
$7,782.50/mo
Valuation Metrics
0
DSCR
6.67%
Cap Rate
6.67%
ROI
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