Historical Retail Sale Listing - NNN Restaurant-Great Cap Rate!

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NNN Restaurant-Great Cap Rate!

109 Grand Ave, Hackettstown, NJ 07840

N/A

6,000 SF | Retail

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Retail Property - Off Market

Price:
N/A
Building Size:
6,000 SF
Property Type:
Retail
Property Sub-type:
Restaurant
Property Use Type:
Net Lease Investment with
10+ years left on lease
Cap Rate:
10.25%
Occupancy:
100%
Tenancy:
Single
Lot Size:
0.89 AC
Listing ID
16679158
Last Updated
over 1 year ago

Description

Back on the Market and re-priced May 10, 2010 to sell quickly! 6,000+ SF. free-standing restaurant on .89 +/- acres. 54 parking spaces. Building was the former Clarendon Hotel. 3 Story masonry brick and frame.
16,789 ADT (12 hour daytime count 6am-6pm).
Charlie Brown's Steakhouse Est.1966.
"For over 40 years, Charlie Brown's Steakhouse has served the highest quality food at affordable prices in a family atmosphere. Great food along with great value, quality and warm hospitality have defined Charlie Brown's and we are committed to keeping that tradition going for many years to come."
54 Locations throughout New York, New Jersey, and Pennsylvania.

19 Year NNN lease commenced in December 2001 with Two 5-year options.
Next rent bump in December 2015 with primary lease term ending November 2020. Single asset LLC guarantee (this means no Corporate Guarantee, but it is a Corporate run restaurant). Landlord has liquor license rights per the Lease.

Map of 109 Grand Ave, Hackettstown, NJ 07840 (Warren County)

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