Taco Bell

Long-Term Lease: Features over ~18.5 years of remaining lease term with 10% increases every 5 years, providing investors with long-term cash flow and a hedge against inflation.
Absolute NNN Lease: A truly passive investment with zero landlord responsibilities, delivering hands-off ownership. The tenant covers all expenses including taxes, insurance, and all property maintenance.
Full Basis Recapture: In-place lease structure is projected to fully recapture the initial investment through contractual rental income within the base term, without relying on renewal options or exit assumptions.
Low Rent/Low Basis: Current rent of $82,500 annually reflects a conservative occupancy cost, while the asset is expected to trade well below replacement cost – supporting long-term stability and strong residual value.
Institutional-Grade Franchisee: The property is leased to Pacific Bells LLC, one of the largest Taco Bell franchisees in the U.S., operating +300 locations nationwide, and~50 Taco Bell locations in the greater Cleveland market. Their size and affiliation with Yum! Brands provide strong operational infrastructure, capital backing, and long-term tenant stability.

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