Subject property is to be sold at auction facilitated by Auction.com which starts on 12/15/2014 and ends on 12/17/2014. Property is subject to a Long-Term Absolute NNN Lease- with Zero landlord responsibilities. 15 years remaining on lease term. Four (4) – Five (5) Year Renewal Options Current Annual Rent $76,906.00 Annual Increases of 1.75% Personal Guarantee- Franchisee has been in business 20+ years and owns and operates more than 100 restaurants including Taco Bell, Long John Silvers & Ruby Tuesdays. Strong traffic count with 26,800+ vehicles passing daily.
Follow the link to Auction.com:
http://www.auction.com/louisiana/commercial-auction-asset/193022861-7808-2753-highway-28-east-pineville-la-71360-b_146 - Area description: This property is located on Holloway Prairie Road. Tenants located nearby include Walgreens, CVS/pharmacy, Sears, AutoZone, McDonald’s, Chase Bank, Dollar General, Popeye’s, and Subway as well as a Wal-Mart which is currently under construction directly across from the subject property. Pineville is located right across the Red River from Alexandria, and in the center of Louisiana. The city is approximately an hour away from Lafayette and two hours away from Baton Rouge. - Tenancy: Single Tenant
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