Peckham Boston Advisors

$3,984,545 Absolute Net Lease
FOR SALE
8.25% CAP
2% Annual Bumps


EXECUTIVE SUMMARY

Location: This property is situated at 2226 North Monroe Street, Tallahassee, Florida 32303, an exceptional retail location.
Description: The property consists of a 8,100 square foot restaurant building on a 2.23 acre parcel
Tenant Information: Roadhouse Grill, Inc. (NASDAQ; Stock Symbol: GRL) was incorporated under the laws of the state of Florida in 1992. The principal business of the Company is the operation of full service specialty restaurants. The Company has also granted franchises and licenses to operate restaurants under the "Roadhouse Grill" name. The Company opened its first restaurant in Pembroke Pines, Florida (the greater Ft. Lauderdale area) in 1993. As of October 24, 2004, there were 69 company-owned Roadhouse Grill restaurants, 34 of which are located in Florida and the balance of which are located in Alabama, Arkansas, Georgia, Louisiana, Mississippi, New York, North Carolina, Ohio and South Carolina.
Location information: The property on a heavily traveled Monroe Street (U.S. Highway 27), a major retail corridor and throughway through Tallahassee. The Roadhouse Grill is ideally situated within this retail destination approximately 1 mile south of Interstate Highway 10, and within 2 miles of Florida's State Capitol Building. This strategic location is within 1/4 mile of Urban America's Tallahassee Mall, which features a 20-screen AMC movie theater and anchor tenants such as Dillard's, Parisian Department Store, Goody's and Burlington Coat Factory. The list of neighboring retail and commercial uses is virtually endless, with such names as Walgreens, Eckerd, Staples, Comp USA, Blockbuster, Boston Market, Starbuck's, Longhorn Steakhouse, Hooters Restaurant, Red Lobster, McDonald's, Miami Subs, KFC, Wendy's, Chic-Fil-A, Arby's, Howard Johnson, Days Inn and many more. Also in the immediate area is Tallahassee's local CBS affiliate, WCTV Channel 6.Signage and visibility is excellent with convenient ingress/egress via a dedicated driveway directly off of Highway 27. The property consists of a 8,100 square foot restaurant building on a 2.23 acre parcel.
 

Operating History
http://unitedeq.net/UNITEDEQ/RT_Operating_History.pdf

Fiscal 2005 Operating Statement
http://unitedeq.net/UNITEDEQ/RTFY2005PLsTallahassee.pdf

Maps, Demographics and Other Company information
http://unitedeq.net/UNITEDEQ/RTExpandedStup.pdf

Lease: Absolute net, no landlord responsibilities. Lease Term: 20 Year; Lease Commencement Date: 08/06/04; Lease Expiration Date: 08/31/24. Net Net Net Rent as of 8/06/05 is $321,300. Rent Increases: 2.0% Annually; Options: Four - 5-year options Lease Guarantor: Corporate Guarantee.

Price: $3,984,545

This information has been received from sources deemed reliable but is presented subject to errors and omissions and withdrawal without notice.

Contact Information

John M. "Jack" Peckham III CCIM, CIPS, RECS
Peckham Boston Advisors
(Founded 1963 - Our 47th Year)
Four Longfellow Place, Suite 2003
Boston, MA 02114
Phone 617 523 4441 Ext. 6

Email: info@REOtoCash.com
Web: www.REOtoCash.com

All information is from sources we deem reliable and is submitted subject to errors, omissions, prior sale, lease, withdrawal without notice, or change in price and conditions. While we do not doubt it's accuracy, no representation thereof is made.

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