Year Build: 2012
Building Size: 4,950 SqFt.
No of Stories: 1
Total Lot Area: 1.00 Acre
No of Parking: 0
No of Total Units: 3
Property Current Status: Normal Sale
Building Status: Existing
Heating and Cooling: Heating and Cooling
Building Class: Not Specified
Property on Ground Lease?: No
Net Lease Investment?: Yes
Business Price Included?: No
Roofing: Not Specified
Occupancy: 82%
Full Description
Fortis Net Lease is proud to present this new 4,950 square foot multi-tenant, investment property offering for a McDonalds and H&R Block location in Par-sons, TN. McDonald’s signed a brand new 20 year lease that commenced December 1, 2012. The lease is corporately guaranteed by McDonalds’s USA, LLC. After the primary term of the lease the tenant has ten (10), five (5) year options to extend the lease. The McDonald’s lease features a 10% rental increase at the first option and a 5% rental increase at options three through ten. The building was built in 2012 and after completion McDonald’s immediately took oc-cupancy. Bittersweet Ventures, LLC dba H&R Block signed a 5 year lease that commenced July 1, 2013. Both tenants are responsible for reimbursing the landlord their pro-rata share of property taxes, property insurance and CAM. The landlord is responsible for the parking lot, roof and structure.
The subject property is located in Parsons, TN which has over 13,000 people within a 10 mile radius. The subject property is surrounded by other restau-rants and retailers such as Ace Hardware, Fred’s Super Dollar, Dollar General, Food Giant, Hardee’s, Sonic, BP, Vise Pharmacy and numerous other local re-tailers. The subject property is just over a mile north of the Decatur County General Hospital.