- Northern California location
- Under $1,000,000
- New 15 year lease
- No landlord responsibilities
- 1.5% annual increases
- Beginning cap rate of 5.75%
- Experienced operator
This is my featured Triple Net (NNN) Lease property for the month. This is a great investment in California for under $1,000,000. I can help you start a carefree property investment today!
The subject property is strategically positioned in one of the main retail corridors in Lemoore with many national and local retail tenants. Major tenants in the area include: Family Dollar, Walgreen’s, Burger King, McDonald’s, Kmart, Dollar Tree, Taco Bell, and KFC, as well as many others.
Cinnamon Elementary School, Liberty Middle School, Meadow Lane Elementary School, and Mary Immaculate Queen School are all located within one mile of the Pizza Hut property. The four schools have a combined total of nearly 2,000 students enrolled.
“Net lease” is a term used for an arrangement in which the tenant or lessee is responsible for paying, in addition to base rent, some or all of the expenses related to real-estate ownership. These expenses, often called the “three nets”, are property taxes, insurance, and maintenance. Because the rent collected under a net lease is net of expenses, it tends to be lower than rent charged under a gross lease. Net lease types include single net, double net, and triple net leases, with the term “net lease” often being used as a shorthand expression for any of these arrangements. A triple net lease (i.e., one that is net of all three of the major expense categories) is often abbreviated as “NNN lease“, but is still pronounced as “triple net lease”.