Hi,
Need some opinions on location.
The location is in a strip mall 1100 sq ft and is 2 or 3 years old.
In or near the strip mall are, a major grocer, goodwill, cost cutters, other small offices. In the outlots are a bank, restaurant, subway, gas station, and liquor store. Many Many apartments within 1 mile.
Town is 47000 people with smaller communitys near.
Rent is 1750per month and then after 6 months will be 2000 per month.
Rent includes equipment, cam, garbage, water
Location has been closed for about a year.
Equipment was all new, Blodgetts, hobart 60 qt with attachments, slicer, make table, walkin etc.
All the majors are there plus 2 smaller players and about 4 independents.
Thanks in advance.
Coupe zza
coupe,
I’m sure there’s a very good reason why the location has been closed for 12 months. What is the reason for the rent increase??
Offer them $[size=1]1200/[/size] **oops only 1100 sqft, offer them $800.00/mo for 5yrs with 2 additional 5 yr options. If they balk, walk.
I just rented 2000 feet for 800 a month no NNN fees
its in a older building but right down town, already had a kitchen in it, so all the plumbing is done and propane lines ran and 220 electrical is intsalled and a new 200 amp panel and hood ducting is still there and 2 bathrooms.
But on the other hand my other location is in a new strip mall brand new building 1600 a month for 800 feet. no NNN fees
I would ask for a separate agreement on the lease for the property and the lease for the equipment. You need to separate those things. The maintainance repsponsibilty will be defined differently for those things.
All in all, if the equipment is in good condition, I would suggest that you look into a lower lease and buying the equipment from the LL.