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Views: 115 DOM: 110 Updated: 09.13.24 Posted: 05.29.24 Status: Active

Summary

Price $1,872,720
Built/Renov 1983/2023
Tenant Beef-A-Roo
Cap Rate 8.25%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 3,698
Lease Start 06-24-2022
#Units 24
Price/SF $506.41
Expiration 05-31-2042
Tenant Type Fast Casual/Rest.
NOI $154,499
R. Term 17.8
Ownership Fee Simple
Rent/SF $41.78
Increases 2.0%/1/yrs
Pop 5Mi 18,373
Lot/AC 1.24
Options 4/5yrs/2%
AHHI 5Mi $67,773

Lease Highlights

  • Beef-A-Roo has 18 years remaining on the current lease term with 4 (5-year) options to extend
  • The lease features 2% rental escalations throughout the initial term and option periods
  • Absolute NNN | Zero landlord responsibilities
  • Lease guaranteed by Rocinante Equity, Inc. DBA Elysian Capital & Jeffrey Love, personally

Location Description

Beef-A-Roo is strategically located on IN-32, with access to 11,489 vehicles passing by daily. The property is conveniently situated near Highway 65, which sees 60,749 VPD. The immediate area is surrounded by well-known national tenants, including Arby's, Menards, Taco Bell, Denny's, White Castle, and more. The 5-mile trade area is supported by a population of 18,373 residents with an average...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Beef-A-Roo
  • Guarantor:Franchisee
  • Company:Rocinante Equity, Inc.
  • # Units:24
  • Stock:Private

About Tenant

Beef-A-Roo is a beloved restaurant chain that has been serving up delicious roast beef sandwiches, which have become a local favorite. Over the decades, the company has expanded its menu to...


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Listing Broker

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