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Restaurant

Ojos Locos

1405 W Expy 83, Weslaco, TX 78596

Listing Price: $5,217,391

Cap Rate
5.75%
Tenant Name
Ojos Locos
Years Remaining On Lease
19.9
Guarantor
Corporate Guarantee
Rentable SF
6,500
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$46.15

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for the Ojos Locos Sports Cantina located at 1405 W Expressway 83 in Weslaco, Texas. The subject property will consist of approximately 6,500 rentable square feet and is situated on roughly 2.37 acres of land. The property is subject to a brand-new, 20-year sale-leaseback that will commence upon the close of escrow. The base rent will be $300,000 and is scheduled to increase by 7.50% every five years, continuing throughout four (4), five (5)-year tenant renewal options.

Investment Highlights

  • 20-Year Triple-Net (NNN) Sale-Leaseback: At closing the tenant will execute a brand-new 20-year absolute triple-net (NNN) lease. The lease will have no landlord responsibilities
  • Corporate Guaranty: The lease will carry a corporate guaranty from CEH SPE, LLC, the parent company of Ojos Locos
  • Brand-New Construction: The property is projected to open for business in Q4 of 2022

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

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

    Manhattan

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    (972) 755-5200

    License(s) TX: 9002994

    Texas

Restaurant

Ojos Locos

Listing Price: $5,217,391

Cap Rate
5.75%
Tenant Name
Ojos Locos
Years Remaining On Lease
19.9
Guarantor
Corporate Guarantee
Rentable SF
6,500
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$46.15

Investment Highlights

  • 20-Year Triple-Net (NNN) Sale-Leaseback: At closing the tenant will execute a brand-new 20-year absolute triple-net (NNN) lease. The lease will have no landlord responsibilities
  • Corporate Guaranty: The lease will carry a corporate guaranty from CEH SPE, LLC, the parent company of Ojos Locos
  • Brand-New Construction: The property is projected to open for business in Q4 of 2022

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for the Ojos Locos Sports Cantina located at 1405 W Expressway 83 in Weslaco, Texas. The subject property will consist of approximately 6,500 rentable square feet and is situated on roughly 2.37 acres of land. The property is subject to a brand-new, 20-year sale-leaseback that will commence upon the close of escrow. The base rent will be $300,000 and is scheduled to increase by 7.50% every five years, continuing throughout four (4), five (5)-year tenant renewal options.

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

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

    Manhattan

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    (972) 755-5200

    License(s): TX: 9002994

    Texas

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