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Updated almost 2 years ago on . Most recent reply
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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!
Most Popular Reply
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the lease may still be in place and can't be assigned to another NNN tenant till other lease terms are completed.
Taco bell may well still be paying NNN lease even though it is vacant.