1031 - Absolute Net Lease Property
Retail | 5.66% CAP | 5,000 SqFt
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Investment highlights
Pets on Broadway offers a unique opportunity to receive a growing cash flow. Rather than focus on the going in cap rate, a savvy investor should realize that this opportunity is a 7.5% IRR. It makes not sense to focus on the going in cap rate, since the income will be higher next year, and every year after than. The NNN rent rises from $148,500 today to $189,567 in year 10. On top of having a fantastic Absolute NNN lease, the tenant has invested close to $2,500,000 in a mixture of tenant improvements and goodwill when they purchased the business. The landlord /seller has not provided the tenant with ANY tenant improvements. This lease is a pure income play. Tenant is backed by KKR, a publicly traded Private Equity company. KKR though their acquisition has invested approximately $2.5 million into this practice and their renovation, making this a very stable investment.
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