NNN Pro Group is pleased to present the exclusive listing for a Burger King located at 530 Oxbow Road, Palmyra, Maine. The site consists of roughly 3,250 rentable square feet of building space on estimated 0.7-acre parcel of land This investment opportunity is subject to a brand new 20-year Triple-Net (NNN) sale-leaseback with zero landlord responsibilities. The lease will commence upon the close of escrow and will be subject to six (6), five (5) year tenant renewal options. The initial annual rent will be $167,495 and is scheduled to increase by one percent (1.00%) annually starting in year 11 and continuing throughout the base term and option periods. In each option period the rent will increase by one percent (1.00%) annually in years 1 through 3 and the rent will remain flat in years 4 and 5.
✓ Brand New 20-Year Sale-Leaseback
✓ Triple Net (NNN) Lease with Zero Landlord Responsibilities
✓ Guaranteed by Carrols, LLC | Largest Burger King Franchisee With Over 1,110 Units
✓ Attractive Rental Increases of One Percent (1.0%) Annually Beginning in Year 11
✓ Six (6) Tenant Renewal Periods of Five (5) Years Each
The NNN Pro Group is pleased to present the exclusive listing for a Cabela’s at 100 Cabela Boulevard in Scarborough, Maine. The site consists of roughly 130,000 rentable square feet of building space on a 5.00-acre lot that comprises its unit as part of a commercial condominium for the entire Gateway Shoppes development. All roads, parking and access are common elements that are the responsibility of the condominium unit owners, who owe their proportionate share of the property manager’s fee. This Cabela’s is subject to 25-year triple net (NNN) lease with absolutely zero landlord responsibility that commenced May 12, 2008 and has over 10 years remaining on the primary term of the lease. The current net operating income is $2,551,500 and is scheduled to increase 10% every 5 years with the next increase occuring in 2028.
About the Investment:
✓ Long-Term, 25-Year Absolute Triple Net Lease with Over 10 Years of Term Remaining with 10% Rental Escalations Every Five Years
✓ Continuous Operation Clause | Rare Lease Clause Found in Cabela’s and Bass Pro Leases | Full Corporate Guarantee from Bass Pro Outdoor World
✓ Only Cabela’s or Bass Pro Shops in the Entire State of Maine | Ranked in the Top 78th Percentile Nationwide on Placer | Visitors Travel as Far as 100 Miles to Shop at This Location
✓ Excellent Visibility and Access From Interstate 95 and Route One | Ideally Located Less Than 9-miles From Downtown Portland, ME
✓ Adjacent To Scarborough Fishing And Game Association, Scarborough Gun Club |Wildlife Management Area (WMA) | Located Less Then 3-miles Away | Massive Greenland’s Used For Hunting, Fishing, And Other Outdoor Activities
