Cap Rate: 7.50%
Net Operating Income: $279,699
Year Built: 2001
This is the unique opportunity to purchase a long term absolute NNN leased On The Border restaurant in Buford, Georgia. The absolute NNN lease provides for zero landlord obligations and calls for 1.25% annual increases in rent. The lease is corporately guaranteed by On The Border, a strong and experienced operator with ~160 units.
The property is located nearby several retailers including Costco, REI, Dollar Tree, Cost Plus, Ross, and many others.
Buford is a city in Gwinnett and Hall counties in the U.S. state of Georgia. As of the 2010 census, the city had a population of 12,225. Most of the city is in Gwinnett County, which is part of the Atlanta-Sandy Springs-Marietta Metropolitan Statistical Area. The portions of the city in Hall County are not part of Atlanta’s metropolitan statistical area, but are part of Atlanta’s larger Combined Statistical Area, which includes Hall County.