Taco Bell - Saint Petersburg

Asset Type

Retail

Address
3600 4th St N Saint Petersburg, FL United States 33704-1312
Asking Price

S$3,474,000

Sq Footage

2,309

Year Built

N/A

Cap Rate

5.25%

Additional Attributes
Current / Passing Rent S$182,500
Escalations 1.75% annual escalations
Lease Expiration 2033-07-01
Lease Type NNN
Options 2, 10-year options
Tenant Bde Florida, LLC

Property Description

JLL 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.

Investment Highlights

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.


Listing Contacts
Eric Suffoletto
Eric Suffoletto
EVP, Capital Markets
+65 3159 4021
IL - 475.14702
Brian Shanfeld
Brian Shanfeld
Managing Director, Captl Mkts
+65 3159 4021
IL - 475158824
Buff Teague
Buff Teague
+65 3159 4021
AL - 000083353-0 LA - 0995683037 MS - 21517 AL - 000083353-0 FL - BK3240964 TN - 346098
Peter Furest
Peter Furest
SVP, Capital Markets
+65 3159 4021
NY - 10401232530
Taylor Wolfes
SVP, Capital Markets
+65 3159 4021
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