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Restaurant

Krystal Sale-Leaseback | Pioneer Franchisee | 25-Year Absolute NNN Lease

114 E Meighan Blvd, Gadsden, AL 35903

Listing Price: $1,815,000

Cap Rate
5.50%
Tenant Name
WAC Enterprises
Gross SF
2,808
Guarantor
Franchisee Guarantee
Rentable SF
2,808
Price/Gross SF
$646.37
Lease Type
Absolute Net
Rent Per Square Feet
$35.53

Investment Overview

Marcus & Millichap is pleased to present this exclusive listing of a freestanding Krystal Restaurant located at 114 E. Meighan Blvd, in Gadsden, AL. The site constructed in 1978 consists of 2,348 rentable square feet of building space and sits on an approximately 0.46 acre parcel of land. Krystal is subject to a brand new, 25-year Absolute NNN lease, the starting base rent shall be $99,779 with 1.0% annual escalations starting in year six. There will be three five-year tenant renewal options with 1.0% annual rental increases in each of the Five-year option periods, extending the total possible lease term to 40 years. The subject property has displayed strong performance throughout its history in Gadsden, as a result WAC Enterprises will execute a new 25-Year Absolute NNN Lease at Close of Escrow.

Investment Highlights

  • New 25-Year Absolute NNN Lease To Be Executed at Close of Escrow
  • 25-Year Absolute (NNN) Lease - Zero Landlord Responsibilities
  • 1.0% Annual Rent Escalations Starting in Year 6
  • Tenant Renewal Options: Three (3), Five-Year Options
  • Located on a Major Thoroughfare

Broker of Record

  • Eddie Greenhalgh

    First Vice President Investments

    (205) 510-9200

    License(s) AL: 0000882980

    Alabama

Restaurant

Krystal Sale-Leaseback | Pioneer Franchisee | 25-Year Absolute NNN Lease

Listing Price: $1,815,000

Cap Rate
5.50%
Tenant Name
WAC Enterprises
Gross SF
2,808
Guarantor
Franchisee Guarantee
Rentable SF
2,808
Price/Gross SF
$646.37
Lease Type
Absolute Net
Rent Per Square Feet
$35.53

Investment Highlights

  • New 25-Year Absolute NNN Lease To Be Executed at Close of Escrow
  • 25-Year Absolute (NNN) Lease - Zero Landlord Responsibilities
  • 1.0% Annual Rent Escalations Starting in Year 6
  • Tenant Renewal Options: Three (3), Five-Year Options
  • Located on a Major Thoroughfare

Investment Overview

Marcus & Millichap is pleased to present this exclusive listing of a freestanding Krystal Restaurant located at 114 E. Meighan Blvd, in Gadsden, AL. The site constructed in 1978 consists of 2,348 rentable square feet of building space and sits on an approximately 0.46 acre parcel of land. Krystal is subject to a brand new, 25-year Absolute NNN lease, the starting base rent shall be $99,779 with 1.0% annual escalations starting in year six. There will be three five-year tenant renewal options with 1.0% annual rental increases in each of the Five-year option periods, extending the total possible lease term to 40 years. The subject property has displayed strong performance throughout its history in Gadsden, as a result WAC Enterprises will execute a new 25-Year Absolute NNN Lease at Close of Escrow.

Broker of Record

  • Eddie Greenhalgh

    First Vice President Investments

    (205) 510-9200

    License(s): AL: 0000882980

    Alabama

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