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lease $ question

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velvet

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hey guys, quick question:
i am trying to buy this pizza place ,currently we do about 11k a week and rent now is 2800 plus Nnn, in 2018 rent goes up to 3600+nnn and then in 2023 goes up again to 4300+nnn. Now the place has a little room to improve sales(prob 18k a week the most!) but at this rent cost do u think its worth the buy for a long term.? Thanx
 
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velvet said:
hey guys, quick question:
i am trying to buy this pizza place ,currently we do about 11k a week and rent now is 2800 plus Nnn, in 2018 rent goes up to 3600+nnn and then in 2023 goes up again to 4300+nnn. Now the place has a little room to improve sales(prob 18k a week the most!) but at this rent cost do u think its worth the buy for a long term.? Thanx
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Depends what they want for it, size of the space, and what you need to do to it to make it your own. Are you in Quincy Illinois? As is, the rent is 6.36% of sales. That’s pretty good for a pizza place. All my leases I’ve done are between 5-8%. Even 10% isn’t bad for an A location, but I’m confident I can do big numbers in B locations and that’s been the case so far and it’s worked out for me in spades. Let me know if you need any help.
 
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Yeap i am in quincy ma!) my problem is our first store was doing 21k a week on a good week and our rent was 1250 a month! Now, i was looking at a couple places for sale with the rent been between 1100 and 1800, i like those rents a lot better! This particular store has a good location, tho pretty bad parking situation- only street parking for both employees and customers and with many business around it is tought a spot to park any time between 11 am to 8 pm. And most our business is delivery anyways so location wouldnt matter anyway.
 
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I’m in the process of moving to a bigger store. I was able to negotiate a great deal for far less $ then I am paying currently. With this new location I project that business will jump . If it drops off a bit, I can suck it up with the lower rent
 
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Well that was my 3 year plan,but as of yesterday i decided not to purchase the store… After 2.5 months of headache with landlord and his atturney i pulled the plug… Enough is enough .
 
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