Downtown Restaurant Condo For Sale
|Catylist Listing ID:
Street Retail, Other
|Building Size (RSF):
|Gross Building Area:
|Property Use Type:
||Net Leased Investment (NNN)
||Cash to Seller
Overview / Comments
NNN leased retail/restaurant condo for sale, currently occupied by The Gin Joint. Lease expires June 30, 2020 with Tenant having (2) renewal options remaining of 5-years each, which shall be at a mutually agreed upon renewal rate at each option period, both with 3% annual increases in rent.
Attachments & Media
|Tenant Business Name
||The Gin Joint
||$4,305 PSF (Annual)
||Effective July 1, 2018, annual base rent is $51,655. Base rent increases 3% annually each July 1, during current term.
||(2) options of 5-years each. Each option period base rent shall be at a mutually agreed upon rate, with annual rent increasing by 3% annually.
||Lease is modified NNN, where Tenant pays all taxes, pro-rata regime insurance, 100% B&I insurance, pro-rata regime water/sewer, & 100% of interior maintenance.
||51 - Peninsula Chas. inside of crosstown
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