Description
NNN investment opportunity with brand-new 10 year lease and 3% annual rent escalations. The leaseincludes the tenant's personal and corporate guaranty and 1 x 5 year renewal options. The projected revenue for the business is expected to exceed $900K in a 12-month period and the surrounding demographics provide a strong opportunity for growth.TENANT: Caritas Academy LLCLEASE COMMENCEMENT: July 1, 2022RENT COMMENCEMENT: October 1, 2022LEASE EXPIRATION: June 30, 2032LEASE TERM: 10 YearsRENEWAL OPTIONS: 1 x 5 YearsRENT INCREASES: 3% AnnuallyPROPERTY TAXES: Tenant ResponsibilityPROPERTY INSURANCE: Tenant ResponsibilityCOMMON AREA: Tenant ResponsibilityROOF: Landlord ResponsibilitySTRUCTURE: Landlord ResponsibilityHVAC: Tenant ResponsibilityUTILITIES: Tenant Responsibility
Description
NNN investment opportunity with brand-new 10 year lease and 3% annual rent escalations. The leaseincludes the tenant's personal and corporate guaranty and 1 x 5 year renewal options. The projected revenue for the business is expected to exceed $900K in a 12-month period and the surrounding demographics provide a strong opportunity for growth.TENANT: Caritas Academy LLCLEASE COMMENCEMENT: July 1, 2022RENT COMMENCEMENT: October 1, 2022LEASE EXPIRATION: June 30, 2032LEASE TERM: 10 YearsRENEWAL OPTIONS: 1 x 5 YearsRENT INCREASES: 3% AnnuallyPROPERTY TAXES: Tenant ResponsibilityPROPERTY INSURANCE: Tenant ResponsibilityCOMMON AREA: Tenant ResponsibilityROOF: Landlord ResponsibilitySTRUCTURE: Landlord ResponsibilityHVAC: Tenant ResponsibilityUTILITIES: Tenant Responsibility
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