|Current / Passing Rent||S$106,400|
|Escalations||1.75% annual escalations|
|Options||2, 10-year options|
|Tenant||Bde Florida, LLC|
Property DescriptionJLL is pleased to offer for sale the fee-simple interest in a single-tenant Taco Bell located in Dade City, FL. BDE Florida (the "Tenant") is a regional franchisee that operates the store. Additionally, the lease is guaranteed jointly by two individuals.
•The Property possesses ideal net lease fundamentals, highlighted by an Absolute NNN structure with no landlord responsibilities, over 14 years of original term remaining before the Tenant’s renewal option.
•The Tenant, BDE Florida, is a regional franchisee with approximately 25 Taco Bell locations. Additionally, the Tenant operates with a personal guarantee.
•The Asset is strategically located within a Big Lots & Save A Lot anchored retail center. The shopping center has two access points to Highway 301, with one of the access points coming directly into the Taco Bell that sees over 29,000 VPD.
•No other Taco Bell is located within the Dade City trade area, with over 16,000 residents within a 3-mile radius.
•The Tenant has a low rent to sales ratio compared to other QSR restaurants.
•Dade City is the county seat of Pasco County, and also serves as a commercial center for an area encompassing more than 71,000 residents. Dade City’s downtown restaurants and antique gift shops are popular attractions for visitors from the Tampa Bay and Lakeland areas. The area is home to St. Leo University and Pasco-Hernando State College, bringing over 22,800 students.