Have- 4811 Burnet Road- Omelettery Site- Ground Lease

Tenant Reps:

My client just contracted to purchase 4811 Burnet Road, “Omelettery” site, and will be offering the site for a 30 year ground lease. Seeking a tenant.

 

Details:

·         .791 acres or 34,455 sf

·         Existing Building is 2,141 SF (built in 1957). Would need serious upgrade or remodeling, but likely best to tear down candidate.

·         Zoned CS-MU-V-CO-NP

·         Alchohol sales permitted for onsite consumption, stay under 51/49% (food/alchohol ratio)

·         Engineering Plans coming, but we estimate:

o   3,500 sf building

o   40 parking spaces

Terms:

·         $150k/year+NNN

·         10% rent escalation after every 5^th year

·         Up to 30 Years

 

 

Jim Young, CCIM

West Point ‘94

512-565-7509