Cap Rate: 4.75%
Net Operating Income: $120,000
Square Footage: 1,500
Lot Size: 0.49 AC
This subject offering is a Checkers located in Manassas, Virginia. This is the opportunity to purchase a Checkers with a new 20 year term absolute NNN ground lease. The tenant pays for all construction, improvements and infrastructure. The lease calls for 10% increases every 5 years with four 5 year renewal options to renew. This Checkers operator owns 7 Checkers and 2 Popeyes Chicken.
The Checkers pad sits in front of Glory Days and Panera and next to Chick-fil-A. The asset is irreplaceable real estate and surrounded by other national retailers such as Wawa, ALDI, Walmart Supercenter, and many others.
Manassas is an independent city in the Commonwealth of Virginia. As of the 2010 census, the population was 37,821. The city borders Prince William County, and the independent city of Manassas Park, Virginia. The Bureau of Economic Analysis includes both Manassas and Manassas Park with Prince William County for statistical purposes.
Manassas also serves as the seat of Prince William County. It surrounds the 38-acre county courthouse, but that county property is not part of the city. The City of Manassas has several important historic sites from the period 1850–1870. The City of Manassas is part of the Washington-Arlington-Alexandria, DC-VA-MD-WV Metropolitan Statistical Area and is in the Northern Virginia region.