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Restaurant

Friendly's

2502 W State St, Olean, NY 14760

Listing Price: $1,972,343

Cap Rate
5.65%
Tenant Name
Friendly's Restaurant, LLC
Years Remaining On Lease
11.5
Guarantor
Corporate Guarantee
Rentable SF
4,573
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$24.37

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Friendly’s located at 2502 West State Street in Olean, NY. The site consists of roughly 4,573 rentable square feet of building space on approximately 0.89-acre parcel of land. The investment opportunity is subject to a 20-year triple-net (NNN) lease with more than 11 years remaining. The lease has no landlord responsibilities. The current annual rent is $111,437, which is scheduled to increase by 1.50% annually and continuing throughout the remainder of the base term and each of the four (4), five (5)-year option periods.

Investment Highlights

  • More than 11 Years Remaining on a Triple-Net (NNN) Lease with Zero Landlord Responsibilities
  • 1.50% Annual Increases
  • Four (4), Five (5)-Year Tenant Renewal Options

Exclusively Listed By

Restaurant

Friendly's

Listing Price: $1,972,343

Cap Rate
5.65%
Tenant Name
Friendly's Restaurant, LLC
Years Remaining On Lease
11.5
Guarantor
Corporate Guarantee
Rentable SF
4,573
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$24.37

Investment Highlights

  • More than 11 Years Remaining on a Triple-Net (NNN) Lease with Zero Landlord Responsibilities
  • 1.50% Annual Increases
  • Four (4), Five (5)-Year Tenant Renewal Options

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Friendly’s located at 2502 West State Street in Olean, NY. The site consists of roughly 4,573 rentable square feet of building space on approximately 0.89-acre parcel of land. The investment opportunity is subject to a 20-year triple-net (NNN) lease with more than 11 years remaining. The lease has no landlord responsibilities. The current annual rent is $111,437, which is scheduled to increase by 1.50% annually and continuing throughout the remainder of the base term and each of the four (4), five (5)-year option periods.

Exclusively Listed By

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