JOHNNY CARINOS COUNTRY ITALIAN Pharr_ Texas by uploaddoc

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									                 TRIPLE NET LEASE INVESTMENT PROPERTY FOR SALE

              JOHNNY CARINO'S COUNTRY ITALIAN                                                     P h a r r, Te x a s

LOCATION
601 South Jackson Road
Pharr, Texas 78577


PROPERTY
Land: 71,050 sq. ft.

Building: 6,432 sq. ft.

Construction Year: 2003
                                                                                                                           file photo
LESSEE:
Kona Restaurant Group, Inc.
A casual dining restaurant
company based in Austin, Texas.
                                                  TENANT
As of June 25, 2003, the com-                     Johnny Carino's Country Italian is a casual, full-service Italian
pany and its franchisees operate                  restaurant concept inspired from Southern Italian recipes.
73 restaurants throughout the                     Entrees range from such traditional favorites as lasagna and
United States and internation-                    wood-fired pizzas to features including spicy shrimp and
ally. Kona is a subsidiary of Fired               chicken, chicken scallopini, angel hair pasta with artichokes
Up, Inc. Fired Up, Inc. is the                    and veal marsala, all served with freshly baked bread. The
                                                  restaurants offer exhibition cooking to allow customers to enjoy
lease guarantor.
                                                  the culinary experience created by the company's chefs.


PURCHASE PRICE                                    ECONOMICS
$2,766,900                                        Immediate yield of 7.25%. The rent increases annually by 1%
                                                  beginning in the second lease year. Purchase price and corre-
Tenant-in-common interests                        sponding initial yield subject to change.
available with $250,000 mini-
mum.


LEASE
Fully triple net, including roof,
structure, HVAC and parking
lot. Primary lease term is 17
years ending October 31, 2020
with three renewal options of five
years each.
                                                                            AEI FUND MANAGEMENT, INC.
                                                                          1300 Wells Fargo Place, 30 Seventh Street East
                                                                                      St. Paul, MN 55101
                                                                      651-227-7333 / 651-227-7705 (fax) / 800-AEI-1031
                                                                                       www.aeifunds.com


        Disclosure documents on this property are available to financial planners and accredited investors upon request.         23
                                                                                                                            11/10/03
                          1031 REPLACEMENT PROPERTY
                               ECONOMIC ANALYSIS
                          PER $1,000 OF PURCHASE PRICE

Concept:                       JOHNNY CARINO'S COUNTRY ITALIAN
Location:                      Pharr, Texas
Initial Yield: *               7.25%
Purchase Price:                $2,766,900
Rental Escalators:             Rent increases annually by 1% beginning
                               in the second lease year.



        Lease Year                      Rent            Current Yield    Average Yield
             1                         $72.50              7.25%            7.25%
            2                          $73.23              7.32%            7.29%
            3                          $73.96              7.40%            7.32%
            4                          $74.70              7.47%            7.36%
            5                          $75.44              7.54%            7.40%
            6                          $76.20              7.62%            7.43%
            7                          $76.96              7.70%            7.47%
            8                          $77.73              7.77%            7.51%
            9                          $78.51              7.85%            7.55%
            10                         $79.29              7.93%            7.59%
            11                         $80.09              8.01%            7.62%
            12                         $80.89              8.09%            7.66%
            13                         $81.69              8.17%            7.70%
            14                         $82.51              8.25%            7.74%
            15                         $83.34              8.33%            7.78%
            16                         $84.17              8.42%            7.82%
            17                         $85.01              8.50%            7.86%
         TOTAL                        $1,336.21




*Yield will vary with price.

								
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