Business Overview:
This location was a high grossing location but failed because of the personal debt on the franchisee who borrowed $700,000 to build this location. He imploded on his SBA loan, home equity loan by going bankrupt both personally and with the franchise
and therefore was foreclosed on by the bank, landlord and franchisor.
Franchisor is looking for a lucky, but qualified restaurateur to step in for pennies on the dollar, at a lower rental rate and into a sure success. Amazing opportunity for investor, owner/operator, or family run business.
For more information regarding this listing please contact us by completing the "Contact the Seller" form to the left. We look forward to hearing from you.
Property Features and Assets:
New five-year lease with two 5-year options. Total rentable space is 3,959 sq. ft. Base Rent is $25 per sq. ft. or $8,248 per month. The previous lease's Base Rent that was terminated was at $39.39 per sq ft. or $12,995 per month CAM is $5 per sq. ft. or $1,650 per month (very reasonable for a shopping center this large).
Gross Occupancy is $9,897.50 per month. Six (6) months free rent from execution of lease. (Free rent totals $49,488).
Market Competition and Expansion:
Amazing opportunity for investor, owner/operator, or family run business.
Reason for Selling:
Lack of Funds.
Additional Details:
- The property is leased.
- The owner is willing to train/assist the new owner.
- This is not a homebased business opportunity.
- This is a franchise resale opportunity.
Resources: