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.
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.
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. It is used as a coffee house similar to Starbucks only a smaller franchisor, Located within an active shopping corridor.
I prefer to see 15 or 20-year leases at the outset, but this property appears to be well located, and is a franchised brand, so the prospects seem good that the franchisee will prosper and continue to occupy the property through the lease extensions.
831 359 8624