1720 County Rd, Horseheads, NY 14845
4,402 SF | Retail Building | Horseheads, NY 14845 | $1,862,000 ($423/SF) | 7.15% Cap Rate
For Sale
Active
Asking Price $1,862,000
- Property Type
-
Retail, Restaurant
- Square Feet
- 4,402 SF
- Price / Square Foot
- $423
Listing Contacts
Patrick Luther
Matthew Mousavi
Property Overview
SRS National Net Lease Group is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in an absolute NNN, freestanding, corporate signed, Red Robin investment property located in Horseheads, New York. The tenant, Red Robin International, Inc., has over 5 years remaining on their current term, with 3 (5-year) options to extend. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor. There are more than 510 Red Robin restaurants across the United States and Canada, including those operating under franchise agreements
Property Details
- Class
- B
- Year Built
- 2007
- Stories
- 1
- Property Subtype
- Freestanding
- Lot Size (sq. ft)
- 96,703 SF
Highlights
- Over 5 Years Remaining | Scheduled Rental Increases | Corporate Signed | Established Brand
- Absolute NNN Ground Lease | Leased Fee Ownership | Zero Landlord Responsibilities
- Outparcel to Walmart Supercenter Anchored Center | Arnot Mall (1,057,000 SF) | Strong National/Credit Tenant Presence
- Along County Road 64 (13,600 VPD) | Interstate 86 (37,200 VPD) | Excellent Visibility
- Strong Demographics in 5-mile Trade Area | Six-Figure Incomes
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