Dream corner location in the heart of Provo.
2,366 SF of 2nd generation restaurant space.
$36/SF/Year Lease Rate, $5.4/SF/Year CAM
All new fixtures are perfectly ready to use including type 1 grease suctioning vent hood (9' wide x6' deep, double sided), exhaust fans, high capacity new HVACs(1 ton per 100 SF), good sized walk in cooler (100 SF), fully established sink room, 2 clean rest rooms. high capacity independent grease trap (1000 tons/hour). high volume roof top units, built in storage unit, provided soda fountain sector, fully distributed duct ceilings.
Located at junction of University Ave. + Cougar BLVD + University Parkway + State Street.
Beautiful new building built in 2017 with ample parking spaces. 46 certified stalls. practically parking space can accommodate up to 52 stalls. BYU parking lot over the fence is completely open to public during weekends and after 4 pm during week days. So those are good for employee parking. Beautiful new building with good visibility in University Ave and Cougar BLVD.
Next unit tenants are Dutch Bros Coffee, Chipotle, Panda Express lined up as a direct neughbourhood store next door.
In 0.2 mile distances, all Tier 1 national franchise restaurants are gathered together i.e. MacDonald's, Wendy's, Arby's, Chick Fil A, Carle's Jr, Taco Bell, Del Taco, Star Bucks, and CVS Pharmacy. Good visibility from University Ave. And Cougar BLVD.
Located right across CVS Pharmacy and right next to Chipotle and Panda Express. Most of these neighbourhood tenants are doing annual sales of 2 mil to $3 mil for long period of years.
Due to the lease with next unit tenant, Chipotle Mexican Grill, this unit can not sell any Mexican food at all.
Given all restaurant fixtures and furnitures are fully provided already and new tenant can save big bucks of investment otherwise would be needed to spent, the landlord ask to pay $30,000 compensation for those available fixtures, construction, and furniturs available to use during the period of lease. Previous tenant and landlod spent $400,000 to set up this location for construction, fixture, equipments, and furniture. New tenant is getting all those at just $30,000.
If the new tenant plans to wipe out all fixtures and furnitures and will reestablish full scale TI build out of the unit at tenant's expense, this $30,000 compensation to landlord will not be required but in this case the landlord will sell those fixtures and furnitures for landlord's income. Landlord do not subsidise any TI compensation to new tenant as this unit is fully established, ready to use now and landlord has spent those TI compensation already.
Minimum 10 year lease of fixed commitment required.
