On today's episode of The Restaurant Realty in 10 host, Michael Carro, explains special lease details to consider as you re-sign a long-term restaurant tenant.
He walks you through a conversation he recently had with a friend who wanted advice on how to retain a great restaurant tenant and put himself in a position where selling the building as a NNN investment may be possible in the future.
If your goal has changed from “long-term hold” to considering selling a leased property as a NNN investment here are a few tips from today’s episode:
- Consider a below-market lease rate and negotiating building improvements such as improved signage or covering patios
- Set annual lease increases to bring the lease to market value over time
- Creating an Absolute NNN lease where the tenant is responsible for all building upkeep
- Having an initial lease term of 10 -years
For more information on The Restaurant Realty in 10 or to get the show notes from today's show head over to TheRestaurantRealty.com
Subscribe to get new episodes that provide uncensored straight talk geared to answer your restaurant and restaurant real estate questions.
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