- New 25 Year Absolute NNN Lease Will Commence Upon Close of Escrow
- Brand New Construction | Current Location Being Scraped and Rebuilt | Restaurant Planned Opening is November 2017
- Absolute NNN Lease Requires Zero Landlord Responsibilities
- 1% Annual Increases Including the Option Periods
- Top Franchisee Nationwide (290 Locations)
Fortis Net Lease is pleased to present a brand new free-standing Taco Bell located at 1009 North Main Street, Monticello, IN 47960 . This is a proven location as this property has been operating as a Taco Bell for nearly 20 years. K Mac is “scraping” and rebuilding this site to e-open in November 2017 at which time, K Mac Enterprises will sign a brand new 25 year absolute NNN lease requiring zero landlord responsibilities. The entire 295 unit entity will be responsible for the lease. The lease also features 1% annual rent increases to hedge against inflation. These rent escalations are also included in the five, five (5) year option periods.
This investment property is surrounded by many national retailers such as Kroger, Ace Hardware, Dollar General, CVS, Advance Auto Parts, Ar-by’s and Burger King. The ten mile population exceeds 22,000 residents. The median home value within five miles exceeds $130,000 and the average household income within five miles exceeds $64,000.
This is an ideal opportunity for an investor to purchase a passive income real estate asset with absolutely zero management responsibilities. The tenant is responsible for all property taxes, insurance and capital expenditures including the roof, structure & HVAC.