NNN Lease Property of the week

The Triple Net investment concept allows you to buy commercial property that has a long term lease from a tenant which obligates the tenant to pay all expenses on the property, so that you as the owner/landlord have little or no responsibility beyond receiving a rent check each month.

john skinner triple net nnn lease property specialist in watsonville californiaThis property is worthy of note because it presents a relatively low entry point into this market.

 

Tenant:     xpress Lube – Phoenix, Az

Price:     $455,000

Annual Income    $30,000 with 3%/year increases.

Cap Rate    6.59%

Lease term   5 years remaining plus 15 year option

 

Tenant has been in place for 29 years and has made substantial improvement to the building this year at his own expense, indicating an intent to continue in place.

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