|Current / Passing Rent||S$182,500|
|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 Saint Petersburg, 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 Property is strategically located as an outparcel to Publix. The property sits on an 0.29 AC of land that has frontage and visibility to 4th Street North which sees over 29,000 VPD.
•The Asset is positioned across from the Northeast Park Shopping Center which is headlined by national retailers such as Publix, CVS, and Stein Mart.
•The Tenant has a low rent to sales ratio compared to other QSR restaurants.
•Saint Petersburg is a resort town known for its beautiful beaches and tourist attractions that draw over 7 million people and created an economic impact of $9.8 billion in 2017.
•The immediate vicinity of the Property is very densely populated with 43,050 people within a five-minute drive that make an average of $49k per year.