100 Family Fare Dr Nappanee, IN 46550
- Turn key restaurants
- 0.43 lot acres
Dec 07, 2022
Current Use by Public Records
- Scooter's Coffee / Coffee Shop
Property Details for 100 Family Fare Dr
- Year built
- 1987
- Lot size
- 0.43 lot acres
- Zone code
- ZO01
- Property type
- Turn key restaurants
- APN
- 20-14-31-276-052.000-029
- APU
- 201431276052000029
Description
This exceptional investment opportunity presents a 600-square-foot, Class A Scooter's Coffee property located at 100 Family Fare Dr, Nappanee, Indiana, 46550. Built in 2022, this single-story building sits on a 0.43-acre lot zoned C-Commercial and boasts a prominent location on US Highway 6, less than a mile east of IN-19, ensuring high visibility. The property is offered for sale at $1,500,000, representing a compelling $2,500 per square foot price. The investment features a 15-year absolute NNN lease with a current NOI of $90,000, translating to a 6% cap rate. The lease includes a monthly rent of $7,500, with attractive 10% rental increases every five years, and three 5-year options to extend the lease at the same 10% increase. The franchisee, with a proven track record of success, operates two additional Scooter's Coffee locations in the region and is actively expanding, demonstrating strong financial stability and commitment to the brand. This sale-leaseback transaction provides a secure, passive income stream with significant long-term growth potential. The franchisee will sign the 15-year lease at closing. This is a rare opportunity to acquire a high-performing, low-maintenance investment in a thriving Indiana market.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Nappanee
- County
- Elkhart
- State
- Indiana
- Longitude
- -85.9856
- Latitude
- 41.443
- CBSA code
- 21140
- CBSA name
- ELKHART-GOSHEN, IN METROPOLITAN STATISTICAL AREA
