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Restaurant

Hooters

241 Eastern Bypass, Richmond, KY 40475

Listing Price: $2,959,390

Cap Rate
5.20%
Tenant Name
Hooters
Years Remaining On Lease
11.6
Guarantor
Corporate Guarantee
Rentable SF
5,667
Lease Type
Absolute Net
Rent Per Square Feet
$22.21

Investment Overview

Marcus & Millichap is pleased to present this NNN leased Hooters in Richmond, Kentucky. The lease structure is absolute net providing for zero land lord obligations. There are over 10 years of remaining term on the initial 20 year lease. The lease calls for rent escalation equal to the lessor of 10% or 1.25X the CPI and in each of the four, 5 year options. The property is well situated on a major commercial thoroughfare with easy access to I-75, the Richmond Centre Shopping Mall and Eastern Kentucky University.

Investment Highlights

  • Long Term Absolute NNN Lease, 100% Fee Simple Interest
  • Zero Landlord Obligations, Scheduled Increases in Rent
  • Corporate Guaranty with Excellent Access and Visibility
  • Proximate to Major Thoroughfares and Eastern Kentucky University

Exclusively Listed By

Broker of Record

  • Colby Haugness

    First Vice President Investments

    (816) 410-1010

    License(s) KY: 242197

    Kentucky

Listing Price: $2,959,390

Cap Rate
5.20%
Tenant Name
Hooters
Years Remaining On Lease
11.6
Guarantor
Corporate Guarantee
Rentable SF
5,667
Lease Type
Absolute Net
Rent Per Square Feet
$22.21

Investment Highlights

  • Long Term Absolute NNN Lease, 100% Fee Simple Interest
  • Zero Landlord Obligations, Scheduled Increases in Rent
  • Corporate Guaranty with Excellent Access and Visibility
  • Proximate to Major Thoroughfares and Eastern Kentucky University

Investment Overview

Marcus & Millichap is pleased to present this NNN leased Hooters in Richmond, Kentucky. The lease structure is absolute net providing for zero land lord obligations. There are over 10 years of remaining term on the initial 20 year lease. The lease calls for rent escalation equal to the lessor of 10% or 1.25X the CPI and in each of the four, 5 year options. The property is well situated on a major commercial thoroughfare with easy access to I-75, the Richmond Centre Shopping Mall and Eastern Kentucky University.

Exclusively Listed By

Broker of Record

  • Colby Haugness

    First Vice President Investments

    (816) 410-1010

    License(s): KY: 242197

    Kentucky

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