Cap Rate: 7.00%
Net Operating Income: $373,515
Year Built: 1999
This is the unique opportunity to purchase a long term absolute NNN leased On The Border restaurant in Fort Worth, Texas. The absolute NNN lease provides for zero landlord obligations and calls for 2% 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 national retailers including Denny’s, Chili’s, 7-Eleven, Regal Cinema, and many others. On the Border also benefits from its position just off the highway.
Fort Worth is a city in North Central Texas. In the late 19th century, it became an important trading post for cowboys at the end of the Chisholm Trail. Today, it’s a modern city, with international art institutions like the Kimbell Art Museum. The Fort Worth Stockyards are home to rodeos, and the National Cowgirl Museum and Hall of Fame honors pioneers.