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Updated over 1 year ago,
NNN ground lease proposal
There is a vacant Taco Bell in my area. Has anyone purchased a vacant fast food chain building then turned around and sold it to another fast food chain and had the retailer on a ground NNN lease? The property is on a main busy road and there are several other food options in the area so I would think any food chains that did not have a building near by would be interested in the property.
I've read a few successful stories involving purchasing vacant land then turning around and pitching the location to fast food businesses but I'm a bit stuck on how you could sell an already built building that could be renovated by the company. Also, if anyone on this forum has done a deal like this, what did your process look like from start to finish. I appreciate any advice!