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Restaurant

On The Border Ground Lease

8810 S 71st Plaza, Papillion, NE 68133

Listing Price: $3,634,400

Cap Rate
6.70%
Tenant Name
On The Border Mexican Grill & Cantina
Years Remaining On Lease
13.4
Gross SF
6,295
Guarantor
Personal Guarantee
Rentable SF
6,295
Price/Gross SF
$577.35
Lease Type
NNN Ground Lease
Rent Per Square Feet
$38.68

Investment Overview

Marcus & Millichap is pleased to present for sale On The Border Ground Lease in Papillion, Nebraska. Founded in 1982, On The Border Mexican Grill & Cantina ("On The Border") is the world's largest Mexican casual dining brand. On The Border has more than 130 locations across 26 U.S. states and South Korea.

Papillion is a city in and the county seat of Sarpy County in Nebraska. Part of the Omaha metropolitan area, Papillion is home to over 24,000 residents and is the seventh-most-populous city in the state.

Investment Highlights

  • Brand New 15-Year Triple-Net (NNN) Ground Lease with an Experienced Franchisee
  • 10 Percent Rental Increases Every Five Years with Multiple Renewal Options
  • Newly Renovated Property that Recently Opened for Business in July 2023
  • 185,956 Residents within a Five-Mile Radius - Growing Trade Area in the Omaha MSA
  • Households and Population Projected to Increase Six to Seven Percent in the Immediate Area by 2027
  • Situated in a Strong Retail Corridor Anchored by Lowe's, Kohl's, and Walmart - Other National Tenants Include Chick-fil-A, Panda Express, Arby's and Panera Bread
  • Average Household Income Exceeds $118,000 within a One-Mile Radius
  • Located Along 72nd Street, Visible to More Than 25,176 Cars per Day

Exclusively Listed By

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s) NE: 20200223

    Nebraska

Financing By

Restaurant

On The Border Ground Lease

Listing Price: $3,634,400

Cap Rate
6.70%
Tenant Name
On The Border Mexican Grill & Cantina
Years Remaining On Lease
13.4
Gross SF
6,295
Guarantor
Personal Guarantee
Rentable SF
6,295
Price/Gross SF
$577.35
Lease Type
NNN Ground Lease
Rent Per Square Feet
$38.68

Investment Highlights

  • Brand New 15-Year Triple-Net (NNN) Ground Lease with an Experienced Franchisee
  • 10 Percent Rental Increases Every Five Years with Multiple Renewal Options
  • Newly Renovated Property that Recently Opened for Business in July 2023
  • 185,956 Residents within a Five-Mile Radius - Growing Trade Area in the Omaha MSA
  • Households and Population Projected to Increase Six to Seven Percent in the Immediate Area by 2027
  • Situated in a Strong Retail Corridor Anchored by Lowe's, Kohl's, and Walmart - Other National Tenants Include Chick-fil-A, Panda Express, Arby's and Panera Bread
  • Average Household Income Exceeds $118,000 within a One-Mile Radius
  • Located Along 72nd Street, Visible to More Than 25,176 Cars per Day

Investment Overview

Marcus & Millichap is pleased to present for sale On The Border Ground Lease in Papillion, Nebraska. Founded in 1982, On The Border Mexican Grill & Cantina ("On The Border") is the world's largest Mexican casual dining brand. On The Border has more than 130 locations across 26 U.S. states and South Korea. Papillion is a city in and the county seat of Sarpy County in Nebraska. Part of the Omaha metropolitan area, Papillion is home to over 24,000 residents and is the seventh-most-populous city in the state.

Exclusively Listed By

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s): NE: 20200223

    Nebraska

Financing By

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