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Views: 70 Updated: 03.20.24 Posted: 09.21.23 Status: Sold

Summary

Price $2,862,000
Built/Renov 2007/2012
Tenant Dunkin' Donuts | Baskin Robbins
Cap Rate 4.75%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 2,297
Lease Start 01-01-2021
#Units 100
Price/SF $1,245.97
Expiration 12-31-2045
Tenant Type Fast Food/QSR
NOI $135,938
R. Term 21.6
Ownership Fee Simple
Rent/SF $59.18
Increases 1.5%/1/yrs
Pop 5Mi 43,783
Lot/AC 1.53
Options 3/5yrs/1.5%
AHHI 5Mi $87,527

Lease Highlights

  • Dunkin Donuts has 22 years remaining on their primary lease with 3 (5-year) option periods to extend
  • Tenant confirmed an early extension through the first option period (Jan. 2041 - Dec. 2045)
  • Lease features 1.50% annual increases years 1-5 with 7.50% rental increases every 5 years and at the beginning of each option period
  • Absolute NNN | Zero landlord responsibilities
  • Franchisee guaranteed lease
  • Income tax free state

Location Description

Dunkin Donuts is ideally located at the hard, signalized intersection of South Peninsula Ave and Highway A1A, and has direct on/off ramp access to Interstate-95 (34,000 VPD). The property is situated in close proximity to a Publix-anchored retail center spanning over 110,000 square feet, promoting a strong consumer drive to the area. In addition, a 114 guestroom Hyatt Place Hotel is planned to...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Dunkin' Donuts
  • Guarantor:Franchisee
  • Company:Tim Cloe
  • # Units:100
  • Tenant S&P: B+
  • Moody’s: B2
  • Stock:Private

About Tenant

Dunkin' Donuts LLC, also known as Dunkin' and by the initials DD, is an American multinational coffee and doughnut company, as well as a quick service restaurant. The chain sells over 50...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 3,162 20,197 43,643
2023 Total Population : 3,229 20,639 43,783
2023 Employed Civilian Pop : 1,275 8,316 18,324
2023 Total Businesses : 336 1,770 2,567
2023 Average Household Income : $ 115,806 $ 88,602 $ 87,527
2023 Total Consumer Spending : $ 177 M $ 775 M $ 1583 M
2023 Median Age : 63 58 56
2023 Total Households : 1,771 9,989 20,759
2023 Pop Age 25+: Bachelor's Degree : 730 3,499 6,711
2023 Average Home Value : $ 464,248 $ 419,204 $ 376,914
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
E 3rd Ave S Peninsula Ave 2008 25,000 0.03 mi
3rd Avenue S Cooper St 2019 28,000 0.18 mi
FL A1A S Cooper St 2021 22,000 0.24 mi
Saxon Dr 7th Ave 2008 5,340 0.55 mi
A1A E 3rd Ave 2008 16,800 0.56 mi
Atlantic Avenue Maralyn Ave 2021 3,900 0.58 mi
3rd Avenue 4th Ave 2021 12,200 0.62 mi
Flagler Ave S Peninsula Ave 2003 7,000 0.69 mi
Flagler Avenue N Cooper St 2021 10,400 0.69 mi
South Causeway Richmond Dr 2020 26,500 0.71 mi

Listing Broker

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