1720 County Rd 64 - Restaurant FOR SALE


Horseheads, NY 14845
$1,957,000 USD
214-560-6900
1720 County Rd 64, Horseheads, NY for Sale
$1,957,000 USD
Restaurant - FOR SALE
1/9
null | 6.8% Cap Rate

1720 County Rd 64
Horseheads, NY 14845


HIGHLIGHTS

  • Over 3 Years Remaining | Scheduled Rental Increases | Corporate Signed | Established Brand | Healthy Sales
  • NNN Ground Lease | Leased Fee Ownership | Minimal Landlord Responsibilities
  • Outparcel to Walmart Supercenter Anchored Center | Arnot Mall (1,057,000 SF) | Strong National/Credit Tenant Presence
  • Along County Road 64 (19,800 VPD) | Interstate 86 (31,000 VPD) | Excellent Visibility
  • Strong Demographics in 5-mile Trade Area | Six-Figure Incomes

OVERVIEW

SRS National Net Lease Group is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in a NNN, freestanding, corporate signed, Red Robin investment property located in Horseheads, New York. The tenant, Red Robin International, Inc., has over 3 years remaining on their current term, with 3 (5-year) options to extend. The lease features 10% rental increases at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is NNN with minimal landlord responsibilities making it an ideal, low management investment opportunity for a passive investor. There are nearly 500 Red Robin restaurants across the United States and Canada, including those operating under franchise agreements.

FOR SALE DETAILS

PRICE

$1,957,000 USD

PRICE/SF

$445 USD /SF

CAP RATE

6.8%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

ON GROUND LEASE

Yes

BUILDING DETAILS

PROPERTY NAME

Red Robin

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2005

SPRINKLERS

-

PARKING SPACES

84

LAND DETAILS

LAND ACRES

1.42 AC

LAND SF

61,855 SF

ZONING

GC

APN/PARCEL ID

073489 58.04-1-17.111,58.04-1-17.118

ASK ABOUT THIS PROPERTY

Michael KaplanSRS Real Estate PartnersMore Info
214-560-6900

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Michael KaplanSRS Real Estate PartnersMore Info
214-560-6900

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.