Shoney's
Gretna, LA
Key Details
| Price: | $2,400,000 |
|---|---|
| Cap Rate: | 7.00% |
| Annual Rent: | $168,000 |
| Address: | 420 Westbank Expressway, Gretna, Louisiana 70053 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 30 Years |
|---|---|
| Lease Commencement: | 1/2/2007 |
| Lease Expiration: | 12/31/2036 |
| Lease Term Remaining: | 12.1 Years |
| Rental Increases: | 10.00% Every 5 Years |
| Lot Size: | 0.87 Acres |
| Building Size: | 5,693 SF |
| Year Built: | 1969 |
NNN Pro is pleased to present the exclusive listing for a Shoney's located at 420 Westbank Expressway, Gretna, Louisiana 70053. The site consists of roughly 5693 rentable square feet of building space on an estimated 0.87-acre parcel of land. This Shoney's is subject to a 30-year Triple Net (NNN) lease, which commenced 1/2/2007. The current annual rent is $168,000 and has scheduled increases of 10.00% Every 5 Years.
About the Investment
- Long-Term, Absolute Triple Net (NNN) Lease | This lease is an absolute triple net (NNN) lease with approximately 12-years remaining and zero landlord responsibilities.
- Attractive Rental Increases | The lease will feature 10% increases every 5 years, in both the base term and tenant renewal options.
- Strong Corporate Guarantee | The lease features a corporate guarantee from Shoney's North America LLC. Shoney's operates over 55 locations throughout 17 states.
- Affluent Community | The subject investment property is situated in an affluent community where the average household income within a five-mile radius exceeds $79,000.
Key Details
| Price: | $2,400,000 |
|---|---|
| Cap Rate: | 7.00% |
| Annual Rent: | $168,000 |
| Address: | 420 Westbank Expressway, Gretna, Louisiana 70053 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 30 Years |
|---|---|
| Lease Commencement: | 1/2/2007 |
| Lease Expiration: | 12/31/2036 |
| Lease Term Remaining: | 12.1 Years |
| Rental Increases: | 10.00% Every 5 Years |
| Lot Size: | 0.87 Acres |
| Building Size: | 5,693 SF |
| Year Built: | 1969 |
Talk to the Pros
Glen Kunofsky
gkunofsky@nnnpro.com
License: NY: 49KU1129178
Ken Johnson
kjohnson@nnnpro.com
License:
Broker of Record
Brian Brockman
Bang Realty, Inc
License: BROK.0995684990-ASA
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This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. 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.