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Triple Net Lease Property of the Week

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This week’s selection of Property of the Week goes to Bridgeport Ranger Station in Bridgeport, California

Definitely a unique Triple Net proposition, this facility consists of a Ranger Station located on 3 acres within the Toiyabe National Forest.

The tenant is the US Government.

It offers a rate of return of 6.33%.

And checking up on your property should be a vacation in and of itself.

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Triple Net Lease Property of the week 8.22.17

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This week’s selection is one of the few Triple Net Lease properties I have seen for under $1,000,000, that appears to be a good value in most respects.

Pros:

Price                  $590,000
Use:                    Coffee House
Location:         Between high school campus and outlet mall
Age:                    10 years
Increases        The lease calls for a 10% increase every 5 years.

Cons:

Lease Term     5 years with 3 5-year options
Cost / Sq Ft     $1,365

Summary: The price point represents a good entry level for these properties, and yet it is a relatively new building which should not require expensive renovations or repairs in the near future...

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Triple Net Property of the Week

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There are many factors to consider in buying a Triple Net property.

Perhaps the most important is:
Strength of Tenant

Because if the tenant cannot pay the rent for any reason, there will likely be an interruption in the investor’s cash flow. Is the tenants product or service likely to remain relevant? Starbucks has become a fixture in our society and appears to be in no danger of vanishing. Is the tenant financially stable?
Starbucks (SBUX) is the tenant, and they enjoy a credit rating of A-.

Market Area

Is it growing or in decline?
This is a new building in a growing community.

The Lease

How long does it have to run?
Does it have escalation clauses to protect against inflation?

Average Income

Can the populace afford to buy the product or service?

The Building itself

While the tenant is...

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