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- LoopNet Team
915 Highway 96 S
Silsbee, TX 77656
Casa Ole/Seller Financing/Corp. Guarantee · Retail Property For Sale
PROPERTY FACTS
AMENITIES
- Pylon Sign
- Restaurant
- Air Conditioning
ABOUT 915 HIGHWAY 96 S , SILSBEE, TX 77656
KW Commercial in association with JDS Real Estate TX broker license 9004326 is please to present this absolute NNN leased Casa Ole' restaurant is located in Silsbee Texas. Owner financing available, After 14 years on current location, The tenant is exercising a 5-year option, extending the current lease term to 11 years at the close of escrow with the new buyer. There are 3, 5-year options remaining. Annual rent increases are 1.5%. The lease is Corporate Guarantee and Absolute NNN with no landlord responsibilities. The original 20-year NNN lease commenced in 2004, and the lease is guaranteed by company Mexican Restaurants, Inc. (MRI). Casa Ole' is a full-service Mexican restaurant which consists of ownership of improved land (40,479 square feet) occupied by a 3,941 square feet building, with 71 parking spaces. The property is located on Highway 96, a very well trafficked highway, self-standing building with plenty of parking spaces. Additional easement track in perpetuity for Casa Ole, space of 20,670 sq.ft. with 17 parking spaces.
PROPERTY TAXES
| Parcel Number | 000019-017000 | Improvements Assessment | $617,087 |
| Land Assessment | $102,366 | Total Assessment | $719,453 |
PROPERTY TAXES
