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Restaurant

Fazoli's - High Performing Store | 2.50% Buy-Side Fee

2940 S 3rd St, Terre Haute, IN 47802

Listing Price: $2,840,000

Cap Rate
5.00%
Tenant Name
Fazoli’s Join Venture, LTD
Years Remaining On Lease
17.9
Guarantor
Corporate Guarantee
Rentable SF
3,509
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$40.48

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Fazoli’s located at 2940 South 3rd Street, Terre Haute, IN. The property consists of roughly 3,509 rentable square feet of building space on an estimated 0.74-acre parcel of land. The Fazoli’s is subject to a 20-year Absolute Triple-Net (NNN) lease that was extended for an additional two years during COVID. As a result, there are approximately 18 years remaining on the lease. The rent will increase to $142,044 at the start of next year with 2.00% increases annually for the next eight years then the rent will increase by 8.00% every five years. There are four (4), five (5)-year tenant renewal options that also increase by 8.00% every five years. The seller will credit rent from closing until April 18, 2023, when the rent increases to $142,044.

Investment Highlights

  • Long-Term, 20-Year Absolute Triple Net (NNN) Lease
  • Approximately 18 Years Remaining
  • Two Percent (2.00%) Annual Rental Increases for Next Eight Years Then Eight Percent (8.00%) Increases Every Five Years

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

  • Josh Kanter

    Licensed Real Estate Salesperson

    (212) 430-5189

    Email Josh

    License(s): NY: 10401265643

    Manhattan

Broker of Record

  • Josh Caruana

    First Vice President/District Manager

    (317) 218-5300

    License(s) IN: RB14034355

    Indiana

Restaurant

Fazoli's - High Performing Store | 2.50% Buy-Side Fee

Listing Price: $2,840,000

Cap Rate
5.00%
Tenant Name
Fazoli’s Join Venture, LTD
Years Remaining On Lease
17.9
Guarantor
Corporate Guarantee
Rentable SF
3,509
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$40.48

Investment Highlights

  • Long-Term, 20-Year Absolute Triple Net (NNN) Lease
  • Approximately 18 Years Remaining
  • Two Percent (2.00%) Annual Rental Increases for Next Eight Years Then Eight Percent (8.00%) Increases Every Five Years

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Fazoli’s located at 2940 South 3rd Street, Terre Haute, IN. The property consists of roughly 3,509 rentable square feet of building space on an estimated 0.74-acre parcel of land. The Fazoli’s is subject to a 20-year Absolute Triple-Net (NNN) lease that was extended for an additional two years during COVID. As a result, there are approximately 18 years remaining on the lease. The rent will increase to $142,044 at the start of next year with 2.00% increases annually for the next eight years then the rent will increase by 8.00% every five years. There are four (4), five (5)-year tenant renewal options that also increase by 8.00% every five years. The seller will credit rent from closing until April 18, 2023, when the rent increases to $142,044.

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

  • Josh Kanter

    Licensed Real Estate Salesperson

    (212) 430-5189

    Email Josh

    License(s): NY: 10401265643

    Manhattan

Broker of Record

  • Josh Caruana

    First Vice President/District Manager

    (317) 218-5300

    License(s): IN: RB14034355

    Indiana

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