TENNESSEE

  • Price: $3,100,000
  • NOI: $186,098
  • Cap Rate: 6.00%
  • Remaining Term: 20 years
  • Escalations: 2% Annual
  • Year Built: 2017
  • Lease Type: NNN

 

Brand new construction in an Income Tax Free State. This is a Franchise Lease. Guarantors/Operators have 45 years combined restaurant/bar experience. Their historic experience included operations of over 230 diversified restaurant franchise locations across 6 states and 6 countries. Guarantors/Operators currently operate and/or oversee 50+ different franchise locations in 6 states. Pros: Brand new construction with 20 years of primary term. Experienced and well capitalized Guarantors/Operators. Attractive initial Cap Rate of 6% is enhanced with 2% annual bumps to help maintain value in rising Cap Rate environment. Cons: This is a Franchise operation and NOT a Corporate Guarantee store. Even though the Guarantor/Operators are well experienced and have considerable net worth backing up their guarantee, this is not back stopped by Church’s Chicken Corporate Guarantee.

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