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Restaurant

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

520 S Jefferson Ave, Cookeville, TN 38501

Listing Price: $1,475,000

Cap Rate
5.31%
Tenant Name
WAC Enterprises
Gross SF
690
Guarantor
Franchisee Guarantee
Rentable SF
690
Price/Gross SF
$2,137.68
Lease Type
Absolute Net
Rent Per Square Feet
$113.60

Investment Overview

Marcus & Millichap is pleased to present this exclusive listing of a freestanding Krystal Restaurant located at 520 S Jefferson Ave, in Cookeville, TN. The site constructed in 1931 consists of 690 rentable square feet of building space and sits on an approximately 0.66 acre parcel of land. Krystal is subject to a brand new, 25-year Absolute NNN lease, the starting base rent shall be $78,383 with 3.5% escalations each five-year period. There will be three five-year tenant renewal options with 3.5% 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 Cookeville, 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
  • 3.5% Rent Escalations Every Five-Years
  • Tenant Renewal Options: Three (3), Five-Year Options
  • Located on a Major Thoroughfare

Exclusively Listed By

Broker of Record

  • Jody McKibben

    First Vice President/Regional Manager

    (615) 997-2860

    License(s) TN: 307629

    Tennessee

Financing By

Restaurant

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

Listing Price: $1,475,000

Cap Rate
5.31%
Tenant Name
WAC Enterprises
Gross SF
690
Guarantor
Franchisee Guarantee
Rentable SF
690
Price/Gross SF
$2,137.68
Lease Type
Absolute Net
Rent Per Square Feet
$113.60

Investment Highlights

  • New 25-Year Absolute NNN Lease To Be Executed at Close of Escrow
  • 25-Year Absolute (NNN) Lease - Zero Landlord Responsibilities
  • 3.5% Rent Escalations Every Five-Years
  • 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 520 S Jefferson Ave, in Cookeville, TN. The site constructed in 1931 consists of 690 rentable square feet of building space and sits on an approximately 0.66 acre parcel of land. Krystal is subject to a brand new, 25-year Absolute NNN lease, the starting base rent shall be $78,383 with 3.5% escalations each five-year period. There will be three five-year tenant renewal options with 3.5% 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 Cookeville, as a result WAC Enterprises will execute a new 25-Year Absolute NNN Lease at Close of Escrow.

Exclusively Listed By

Broker of Record

  • Jody McKibben

    First Vice President/Regional Manager

    (615) 997-2860

    License(s): TN: 307629

    Tennessee

Financing By

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