Hooters | 7702 Gateway Ln NW
This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
thank you
Your email has been sent!
Hooters 7702 Gateway Ln NW
4,749 SF Retail Building Concord, NC 28027 £2,775,716 (£584/SF) 6.25% Net Initial Yield
Investment Highlights
- Long-Term, 20-Year Absolute Triple Net (NNN) Lease
- The Lesser of Ten Percent (10%) or 1.25 Times Change In CPI Occurring Every Five (5) Years And Each Renewal Option Starting In January 2033
- Three (3), Five (5)-Year Tenant Renewal Options Remaining, Bringing the Potential Remaining Lease Term to 28+ Years
- Approximately 13.4 Years Remaining
- Initial Lease Commenced In 2011 | Long Operating History | Tenant Exercised First Renewal Option Early, Exhibiting Strong Commitment To The Site
Executive Summary
NNN Pro Group is pleased to present the exclusive listing for a Hooters located at 7702 Gateway Ln in Concord, NC. The site consists of roughly 4,749 rentable square feet of building space on estimated 1.17-acre parcel of land. This Hooters is subject to a 20-year absolute triple-net (NNN) lease, which commenced in 2011. The current annual rent is $219,595 and is scheduled to increase by the lesser of 10% or 1.25 times change in CPI every 5 years in each of the 3, 5-year renewal options. The tenant exercised their first 5-year renewal option early, exhibiting strong commitment to the site.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
4,749 SF
Building Class
B
Year Built
1978
Price
£2,775,716
Price Per SF
£584
Net Initial Yield
6.25%
NOI
£173,482
Tenancy
Single
Number of Floors
1
Building FAR
0.09
Land Acres
1.17 AC
Zoning
C-2
Parking
72 Spaces (15.16 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Bus Route
- Corner Lot
- Pylon Sign
- Restaurant
- Signage
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 4599-12-1038-0000 | Improvements Assessment | £733,232 |
| Land Assessment | £1,177,692 | Total Assessment | £1,910,924 |
PROPERTY TAXES
Parcel Number
4599-12-1038-0000
Land Assessment
£1,177,692
Improvements Assessment
£733,232
Total Assessment
£1,910,924
-
Power Broker Glen Kunofsky -
Judson Kauffman -
Hannan Ben Yosef -
Matthew Sorace -
NNN Pro Group
1 of 3
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
Presented by
Hooters | 7702 Gateway Ln NW
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.