101 Burgess Rd - Restaurant FOR SALE


Harrisonburg, VA 22801
$3,364,000 USD
214-560-6900
101 Burgess Rd, Harrisonburg, VA for Sale
$3,364,000 USD
Restaurant - FOR SALE
1/6
null | 5.35% Cap Rate

101 Burgess Rd
Harrisonburg, VA 22801


HIGHLIGHTS

  • 9+ Years Remaining | Options To Extend | Scheduled Annual Rental Increases
  • Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
  • Harrisonburg Crossing Outparcel | Retail Corridor |James Madison University (21,000 Students)
  • Strong Demographics In 5-Mile Trade Area

OVERVIEW

• The tenant recently signed a brand new 10-year lease with 3 (5-year) options to extend, demonstrating their commitment to the site • The lease features 2% annual rental increases throughout the initial term and option periods, steadily growing NOI and hedging against inflation • First Watch operates over 570 locations throughout the United States

FOR SALE DETAILS

PRICE

$3,364,000 USD

PRICE/SF

$452 USD /SF

CAP RATE

5.35%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

First Watch | 9+ Yrs Remaining | Absolute NNN

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2004

SPRINKLERS

-

PARKING SPACES

81

LAND DETAILS

LAND ACRES

0.38 AC

LAND SF

16,553 SF

ZONING

Commercial

APN/PARCEL ID

014 P 3-A

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 Policy.