NNN Panini's Sale Leaseback
For sale is the 100% fee-simple interest in a NNN-leased Panini’s Bar & Grill in Euclid, Ohio. Panini’s has been operating this restaurant as a corporate store since 2002 and will sign a new 10 year lease at the close of escrow. The investment is being offered at a 9% cap rate and is free of nearly all landlord responsibilities. The tenant will maintain landscaping, snowplowing, HVAC repairs and replacements, and minor parking lot and roof repairs with annual caps (as shown in the rent roll). Additionally, the roof, HVAC system, and many other building components were completely replaced in 2002/2003. This opportunity offers the investor an attractive 9% cap rate on existing income from a stable tenant with proven profitability at the location. Because Panini’s is structuring a low rental rate, this freestanding, NNN investment is being offered at a building price per square foot of $129, far below most other competitive restaurant investments on the market.