Updated 6 days ago on . Most recent reply
Would you buy this deal? Mom and Pop Retail Space.
650k purchase price
1300 sq ft in mixed use condoized building. True NNN.
Cap rate 7.2%
Class A Building (2008 construction recently built out for current Tennant in 2025)
Lease terms: 5 years with 3, 5 year renewals. Rent bumps annually 3%.
The Tennant is a mom and pop coffee shop that has only been open for 3 months.
The shop has a one successful location on the west coast but this is their first location in the area.
Two neighboring units just sold at 500k/sq foot, but both to owner operators.