Lease Assumption including equipment

Salt Lake City, UT (Salt Lake County)

Lease Assumption including equipment

Rate/Sq. Ft.:N/A

Exp./Sq. Ft.:N/A

Min Space:2,451

Max Space:10,793

Year Built:N/A

Lease Assumption including equipment

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Property Description

There are four operating Tex-Mex quick serve restaurant locations available. The current lessee/operator owns another franchise concept and wants to concentrate on that, and find someone to take over the leases on the four locations. They will give all of the current equipment in each location to the new tenant -- an average value of $180,000 per location, not including original build-out costs.

The new tenant could keep the franchise concept (subject to franchisor approval) or change the concept. This upfront capital expenditure for the new tenant would be very low compared to a new startup.

The leases range from $6,800 to $7,800 per month, not including CAM.

Detailed Information

Building Status:
4 locations: 2,500 sf @ $30/sf for years 1-5, $33/sf years 6-10,2 5-year options 3,000 sf @ $27.50/sf, 10% increase every 5 years 2,842 sf @ $32/sf years 6-10 (8 years left on primary term), 2 5-year options 2,451 sf @ $34/sf years 6-10 (8+ years left on primary term)
Location Description:
3 locations in Salt Lake county and one in Summit County. Each space is located in a high-traffic retail area.
Current and Prior Use:
currently operating Tex-Mex quick serve restaurants
Triple Net Lease:
Lease Terms:
see below

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Coldwell Banker Mergers & Acquisitions

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Coldwell Banker Mergers & Acquisitions

Coldwell Banker Mergers & Acquisitions

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