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INVESTMENT IN REAL PROPERTY; OPTION TO LEASE AGREEMENT | 12 Months Ended
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Sep. 28, 2019
Investment in real property option to lease agreement [Abstract] |
INVESTMENT IN REAL PROPERTY; OPTION TO LEASE AGREEMENT | NOTE 5. INVESTMENT IN REAL PROPERTY; OPTION TO LEASE AGREEMENT: Pompano Beach, Florida During the second quarter of our fiscal year 2019, we purchased from an unrelated third party the vacant real property (the “Property”), located at 2119 S.E. 9th Street, Pompano Beach, Florida for $1,300,000 cash at closing. The Property is adjacent to property owned by a third party unaffiliated with us and leased to another third party unaffiliated with us for use as a restaurant (the “Adjacent Property”). As a condition to closing on the Property, we executed an Option to Lease Agreement for the Adjacent Property, to lease the Adjacent Property for a 50 year term commencing November 30, 2022. We plan to renovate the building on the Adjacent Property for operation as a “Flanigan’s Seafood Bar and Grill” restaurant and use the Property as parking. To fund the cash at closing, we used cash on hand. We plan to raise funds to renovate this new restaurant location using our limited partnership ownership model.

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