Tops Bar-B-Q
Retail
ABSOLUTE NNN – 15-YEAR LEASE TERM – 2% ANNUAL RENTAL INCREASES
Tops Bar-B-Q is operating under a long-term lease with no landlord obligations whatsoever. There are 15 years remaining on the primary lease term upon rent commencement with three (3), five (5) year options. The lease also has annual rental increases of 2% every year.
EXCEPTIONALLY WELL LOCATED WITHIN THE MEMPHIS MARKET – TAX FREE STATE
The property is strategically located on Hacks Cross road in Memphis, Tennessee which sees approximately 47,000 cars per day. This subject property is surrounded by major retailers like Costco, Dick’s, Kroger, PetSmart, Walgreens, and Starbucks. The 5-mile population from the subject property is 156,663. This property is located in Tennessee which is an income tax-free state.
TENANT HAS OPERATED FOR OVER 70 YEARS
This property is fully leased and guaranteed by Tops Bar-B-Q, a growing casual restaurant chain headquartered in Memphis, Tennessee. Top’s was founded in 1952 and has 16 current locations in three different states and they are looking to expand. This location is 6 miles from the Top’s Corporate Headquarter facility.
BRAND NEW REDEVELOPMENT WITH AT MARKET RENTS
This former Steak ‘n Shake location has been fully converted in to a Tops Bar-B-Q. The interior and exterior went through extensive renovations to meet Tops’ requirements.
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The information contained herein has been obtained from sources deemed reliable or implied, is made with respect to such information. Terms of sale or lease and availability are subject to change or withdrawal without notice.