Chili's
Across From Walmart Supercenter | Low Rent Ground Lease
Marketing description
Surmount is pleased to present the exclusive listing for a Chili’s located at 585 NM-528, Bernarillo (Albuquerque), NM 87004. The site consists of roughly 6,082 rentable square feet of building space on an estimated 2.24-acre parcel of land. This Checkers is subject to a 10-year Ground lease, which commenced 4/28/2015. The current annual rent is $127,600 and has scheduled increases of 10.00% every 5 years.
Investment highlights
Absolute Triple-Net (NNN) Ground Lease | Zero Landlord Responsibilities | Tenant Recently Exercised Its First (1st) Renewal Option Period | The property is subject to a long-term Ground Lease with zero landlord responsibilities, offering a future landlord with a completely passive investment. The tenant just exercised a renewal option in 2025.
Original 10-Year Lease | Approximately Four (4) Years Remaining | Three, Five-Year Options Remaining | The property is subject to an original 10-year lease; there are approximately four years of lease term remaining after an option was recently extended in 2025. The tenant has three, five-year options remaining.
Rental Increases Of 10.00% Every Five (5) Years & Throughout Option Periods | Hedge Against Inflation | Tenant Exercised Its Next Two (2) Options Early | The lease of the subject property features 10.00% increases every five years and in the next three, five year option periods.
6,082 Square-Foot Building | Oversized 2.24- Acre Lot | Large Pylon Sign Along NM-528 The subject property is a 6,082 square-foot building located on a large 2.24-acre lot. There is a large pylon sign along NM-528
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