Income Producing Property - 689-699 S Monroe
Sale-Leaseback Income Producing Opportunity with 100% Occupancy
Marketing description
This 55,000 SF strip center is offered for sale at $2,750,000 and provides stable in-place income with contractual growth. El Charro occupies 3,848 SF and will remain, while the seller intends to execute a sale-leaseback on the remaining space at $20,500 per month base rent plus the income from the existing tenant, with a 3-year minimum term and 2% annual increases in base rent. Excluding El Charro, tenant is an entity of the building's current owner. The structure offers immediate cash flow with defined escalation and term stability.
Investment highlights
El Charro restaurant occupying 3,848 SF.
Seller leaseback at $20,500/month base plus El Charro $3,200/month. ($246,000 annual plus El Charro $38,400 annual; $284,400, 10.3% cap)
Positioned along established retail corridor.
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