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Checkers | Absolute Triple Net (NNN) Ground Lease

$586,667

1969 Elmwood Avenue, Buffalo, NY 14207

Active
Last Updated: 09/11/2021

6

Cap Rate

35,200

NOI

Details:
Cap Rate:    6%
NOI:    $35,200
Building Size:    1,000 sqft
Lot Area:    0.24 acres
Lease Type:    Absolute Net
Year Built:    2015
Price Per Sqft:    $586.67
Highlights:
  • Low Rent on an Absolute Triple Net (NNN) Ground Lease With Zero Landlord Responsibilities
  • Extremely Strong Sales of Nearly $1,700 Per Square Foot and the Sales Have Increased in 2020 By 14% Year Over Year
  • This is a COVID-19 Resistant Business Operating as a Drive Thru Only
  • Checkers Has Paid its Full Rent Throughout the Pandemic
  • Franchisee Was Named “Franchisee of the Year” at the Checkers and Rally’s Annual Conference in 2017 Seasoned Operator With Multiple Units
  • Located Along Elmwood Avenue Which Sees Over 29,300 Vehicles Per Day
  • Strong Demographics - Population Exceeds 326,814 Residents Within a 3-Mile Radius
  • Located Less Than 2-Miles From SUNY Buffalo State College With Over 8,000 Students
  • Nearby Tenants Include: Home Depot, PetSmart, Target, LA Fitness, McDonalds, ALDI, Starbucks, Big Lots, Dollar Tree, Kohl ’s and Many More
Description:

Sands Investment Group is Pleased to Present Exclusively For Sale a Recently Renovated Checkers in Buffalo, NY. With Over 5 Years Remaining on an Absolute Triple Net (NNN) Ground Lease With Exceptionally Strong Sales and a Low Rent Per Square Foot, This Opportunity Provides For Secure Passive Income From an Established Tenant Located Within an Infill Market.


In Cooperation With SIG RE Services NY LLC
Lic. # 10991233211 BoR: Andrew Ackerman - Lic. # 10491210161

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