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NNN Restaurant-Great Cap Rate!
109 Grand Ave, Hackettstown, NJ 07840
6,000 SF | Retail
Retail Property - Off Market
- Building Size:
- 6,000 SF
- Property Type:
- Property Sub-type:
- Property Use Type:
- Net Lease Investment with
- 10+ years left on lease
- Cap Rate:
- Lot Size:
- 0.89 AC
- Listing ID
- Last Updated
- over 1 year ago
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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The information above has
been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified
it and make no guarantee, warranty or representation about it. It is your responsibility to independently
confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are
for example only and do not represent the current or future performance of the property. The value of
this transaction to you depends on tax and other factors which should be evaluated by your tax, financial,
and legal advisors. You and your advisors should conduct a careful, independent investigation of the
property to determine to your satisfaction the suitability of the property for your needs. TB-P