Description
Investor- Free Standing, Single Tenant, Absolute Net lease. Tenant pays all expenses including property tax. NOI is based on Feb 2023. 6.04 % CAP
Lease expires 2025, w (2) 5-yr options to renew. 3% annual rent increases. In business 38 years as a Mexican Restaurant. This is the 2nd owner.
If you are an Owner/User- Tenant will vacate with 30 days notice and all the restaurant equipment stays.
2 levels with 2 full kitchens. Main dining in upper level, banquets and events in lower level.
Major growth area, national retailers.
Do not disturb tenant. All inquiries must go through Broker.
Additional .23 acre parcel is included 406-06-020C.
Location
IDX information provided courtesy of the Prescott Area Association of Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use, and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable, but is not guaranteed accurate by the MLS. Updated: 3rd June, 2023 2:11 AM (UTC)
Listing Agent: Sharon Mortensen
Listing Office: HUB Commercial