Asking Price
Sq. Footage 2,309
NOI Net Operating Income
Cap Rate 5.25%

Attributes

Year Built 2002
Lease Type NNN
Current / Passing Rent
Lease Expiration 2033-07-01
Remaining Term 13 years, 5 months
Tenant Bde Florida, LLC
Lot Size 0.55 ACRES

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. 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 positioned across from the Northeast Park Shopping Center which is headlined by national retailers such as Publix, CVS and Stein Mart.

Investment Highlights

The Property has an absolute NNN structure with no landlord responsibilities, over 14 years of original term remaining

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 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

Eric Suffoletto
Eric Suffoletto
EVP, Capital Markets
Licensed in
IL - 475.14702
Peter Furest
Peter Furest
SVP, Capital Markets
Licensed in
NY - 10401232530

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