Restaurant
Hooters
3725 E Franklin Blvd, Gastonia, NC 28056
Listing Price: $1,598,960
Investment Overview
Marcus & Millichap is pleased to present the exclusive listing for the Hooters Restaurant located at 3725 E Franklin Blvd in Gastonia, NC. The site presently consists of roughly 3,616 rentable square feet of building space on estimated 1.00-acre parcel of land. This Hooters is subject to a 20-year absolute triple-net (NNN) lease, which commenced in November 1998. The tenant is currently in their first option period. The current annual rent is $119,922 and is scheduled to increase by ten percent (10%) at the commencement of each of the three (3), five (5)-year renewal options. This presents a unique opportunity to acquire a legacy net lease asset with prime frontage along Franklin Blvd (~ 40,000 VPD), with irreplaceable real estate in an A+ corridor surrounded by institutional ownership.
Listing Price: $1,598,960
Investment Highlights
- Original Build-to-Suit With 23 Years of Operating History
- NNN Lease With Full Corporate Guaranty
- Hooters Has Recently Upgraded and Remodeled the Interior
Investment Overview
Marcus & Millichap is pleased to present the exclusive listing for the Hooters Restaurant located at 3725 E Franklin Blvd in Gastonia, NC. The site presently consists of roughly 3,616 rentable square feet of building space on estimated 1.00-acre parcel of land. This Hooters is subject to a 20-year absolute triple-net (NNN) lease, which commenced in November 1998. The tenant is currently in their first option period. The current annual rent is $119,922 and is scheduled to increase by ten percent (10%) at the commencement of each of the three (3), five (5)-year renewal options. This presents a unique opportunity to acquire a legacy net lease asset with prime frontage along Franklin Blvd (~ 40,000 VPD), with irreplaceable real estate in an A+ corridor surrounded by institutional ownership.
