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Restaurant Building 702 Highway 72 West, Athens, Alabama. Asking Sale Price $450,000.00 Pursuant to a lease on the property we submit the following information:
The minimum term is five years on a net, net , net basis. Building roof will be sound and HVAC, two walk-in units, plumbing and electrical systems will be in working condition prior to opening for business.
First year's monthly rent =$3,000.00 | EST. Property Tax = $242.00 | EST. Property Insurance $208.00 | Total Rent = $3,450.00
Second year =$3,060.00 | EST. Property Tax = $242.00 | EST. Property Insurance $208.00 | Total Rent = $3,510.00 Third year =$3,120.00 | EST. Property Tax = $242.00 | EST. Property Insurance $208.00 | Total Rent = $3,570.00 Fourth year =$3,180.00 | EST. Property Tax = $242.00 | EST. Property Insurance $208.00 | Total Rent = $3,630.00 Fifth year =$3,240.00 | EST. Property Tax = $242.00 | EST. Property Insurance $208.00 | Total Rent = $3,690.00 (Taxes and insurance will be adjusted annually with actual billings.)
At signing of the lease we would require the first months rent, plus the last month's rent and a $2,000.00 refundable securit deposit (total at signing including tax equals $9,140.00). We will need the following information in order toproceed withe presenting a Lease: - A personal financial statement on all individuals, and their names, with any ownership in the business including spouces. All partners and spouses will need to personally guarantee the Lease.
- A copy of the past two years personal federal tax return on all owners.
- Type of ownership with a list of the titles of the owners involved.
- Name of the business and a description of the concept and operation. We will also need to see a proposed budget for the concept.
- Prior to Lease approval we will need to be informed of all the changes that need to be made to the building to accommodate the new business.
Modification and improvements are at the Lesse's expense. Building Square Footage: 2,477 +/-
Lot Size: 145' x 151' Location: 702 Highway 72 West, Athens, Alabama
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