Shane's Rib Shack Net-Lease Ellijay, GA - Business for Sale
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Net-Leased Shane's Rib Shack Property in Ellijay, GA
Ellijay, GA, US
Added 6 days ago
Restaurant Lease - Food & Beverage
18 years in business
This listing is for a net-leased Shane's Rib Shack restaurant property in Ellijay, GA, with a long-term tenant lease and annual rent escalations.
Key Information
Asking
$2.3M
Revenue
–
Earnings
–
Multiple
–
Key Highlights
- Scheduled cap rate: 6%
- Current annualized base rent: $133,712
- Lease expiration: January 2033, with two additional five-year renewal options
- Contractual 2% annual rent increases during base term and option periods
- Building size: 4,284 square feet on approximately 1.29 acres
- Restaurant operating at this site since 2008
- Tenant pays real estate taxes, property insurance, utilities, and most repair and maintenance expenses
- Percentage rent of 5% above a $1.8 million annual gross-sales breakpoint is possible but not included in the advertised cap rate
- Business is a franchise
Contact Info
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