Price: $1,395,000
Sq. Ft.: 2,900
Cap Rate: 6.6%
Built: 2002
Absolute Net

The subject property is a 2,900-square foot freestanding Arby’s restaurant in Amarillo, Texas. The absolute net lease has a strong franchisee guarantee from Miracle Restaurant Group. The operator currently has 28 Arby’s units located in Illinois, Indiana, Louisiana, Mississippi, and Texas. Six years remain on the primary term, with a 10% rent bump scheduled in 2017. The tenant has two, five-year options for renewal with rent bumps at the beginning of each renewal period.