Net Lease Investment For Sale

Retail-Commercial for Sale
Catylist Listing ID: 30291781
Property Subtypes: Restaurant, Tavern/Bar/Nightclub, Other
Building Size (RSF): 3,905 SF
Gross Building Area: See Agent
Gross Land Area: 0.60 Acres
Sale Price: $1,278,015
Unit Price: $327.28 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Sale Terms: Cash to Seller
Cap Rate: 7.0%
Last Updated: 6/27/2018

Overview / Comments

Property Highlights:
•Cap Rate: 7%
•Current NOI: $89,461.08
•Net Lease
•Rent Increase of 21% within 8 years
•7 Years left on the Initial Term of the Lease
•Four (4) options to renew for five (5) years
•Telshor Blvd: 20,459 VPD

Property Overview:
Wing Daddy's opened in November of 2014. The initial lease term is 10 years, currently 7 years remaining, with a 10% increase in year 8 and 10% increases every 5 years thereafter. Wing Daddy's is a high quality and popular brand that offers food, drinks and entertainment for adults and the family.

Location Overview:
Located in Las Cruces, NM on Telshor Blvd., across from the Mesilla Valley Mall. This location offers great visibility with 20,459 VPD, easy access and a "Main and Main" location. The surrounding area thrives on shopping, dinning and entertaining and offers a variety of these things catering to Las Cruceans and travelers on I25. Placed on one of the busiest streets in Las Cruces this central location is a great investment with the advantage of up to 26 yrs of Net Lease in place.

Wing Daddy's Sauce House
Wing Daddy’s is the best place for unique food and drinks featuring Wings, Baby Back Ribs and over-the-top Burgers along with fried food you have only dreamed of.Open every day, and for late foodie’s they are open Thursday’s, Friday’s and Saturday’s until 1am! Enjoy music videos and of course sports events on lots of flat screens! They offer weekday-happy hour specials from 2-6 PM. Kids and families are welcome.
Lease is guaranteed by all Owners of Wing Daddy's Sauce House
Total of 24 locations in Texas, New Mexico and Mexico

Las Cruces, NM
Las Cruces, also known as “The City of the Crosses”, is the county seat of Doña Ana County, New Mexico, United States. As of 2016 the population is 101,759 making it the second largest city in the state, after Albuquerque. Las Cruces is the largest city in both Doña Ana County and southern New Mexico. It is the principal city of a metropolitan statistical area which encompasses all of Doña Ana County and is part of the larger El Paso–Las Cruces combined statistical area. It has been listed as a “Best Place to Retire” by several organizations for many reasons; low cost of living, active cultural life and unusually beautiful location.

Additional Details

Nearest MSA: Las Cruces
County: Dona Ana

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 13,072 75,198 112,548
Median Age: 31.29 34.2 34.82
Households: 5,535 31,067 44,876
The information presented herein is provided as is, without warranty of any kind. Neither Commercial Association of REALTORS® - New Mexico nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.