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Dunkin' Donuts | Baskin Robbins
441 East 3rd Avenue, New Smyrna Beach, FL 32169
$2,862,000
Cap Rate 4.75%
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 22.0 | 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...
...Features
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Signalized intersection
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Near major nationals
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Highway location
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Affluent AHHI $100K 5 Mi
-
Income tax free state
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Long 20+ yr lease
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Recently extended lease
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Absolute NNN
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Annual rent increases
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100+ unit franchisee backed
...
Maps
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 |
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 |
