Description
Calling all investors: recently updated commercial restaurant is up for sale with 100% occupied tenant in place. Tenant has a five year lease that expires 08/31/2027 with options to renew. Current rent is $3,000 monthly with annual rent increases of $200; current CAP is 7.5% and will be 8% on 08/01/2023. This establishment has been completely remodeled with all classy LED lights, new flooring and a newer metal roof. Check out the outdoor sitting area on the front and back of the building. Meets all the requirements for commercial/ restaurant purposes. Paved parking lot in the back of building, and parking agreement next door, make for ample on-site customer parking. FF&E included in purchase; contact Jesse Sutherland for full list. This is a great investment with high visibility on Addison Ave; 20 traffic count was at 16k vehicles a day.
Directions: Head East on Addison. The property is across the street from Smith's Food and Drug. Parking is in the rear of the building.
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0BEDS
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0.16ACRES
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0BATHS
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01/2 BATHS
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1,830SQFT
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$260$/SQFT
School Ratings & Info
Courtesy of Tok Commercial.Description
Calling all investors: recently updated commercial restaurant is up for sale with 100% occupied tenant in place. Tenant has a five year lease that expires 08/31/2027 with options to renew. Current rent is $3,000 monthly with annual rent increases of $200; current CAP is 7.5% and will be 8% on 08/01/2023. This establishment has been completely remodeled with all classy LED lights, new flooring and a newer metal roof. Check out the outdoor sitting area on the front and back of the building. Meets all the requirements for commercial/ restaurant purposes. Paved parking lot in the back of building, and parking agreement next door, make for ample on-site customer parking. FF&E included in purchase; contact Jesse Sutherland for full list. This is a great investment with high visibility on Addison Ave; 20 traffic count was at 16k vehicles a day.
Directions: Head East on Addison. The property is across the street from Smith's Food and Drug. Parking is in the rear of the building.
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