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On the Market: Another Papaya Falls

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Just last month a Gray's Papaya imitator Clinton Papaya shuttered, and now Papaya King on 7th and 14th is on the market. Meanwhile, back down at the authentic Gray's (though The Feed points out it's not as authentic as the King) on 8th and 6th, a Qdoba is opening next store (possibly even with a DJ) to try to snatch up the late night drunken market. Not a good time to be a Papaya? The listing:

Papaya King - Southwest Corner of 7th Avenue & 14th Street
Site Details:
Approximately 600 square feet (plus 600 square foot basement)
50 feet of wrap-around frontage
$136,800 per annum (Net)
Approximately $25,000 per annum (real estate taxes)
Landlord will write new 10-year lease (with 3% annual escalations)
Fixtures and kitchen equipment in excellent condition (fully vented)
Key money - $250,000
· The Shutter Report: Kam Chueh, HSF, Clinton Papaya [~E~]
· First Word: Qdoba [~E~]

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