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Updated: 03.26.24 Posted: 07.20.23 Status: Sold

Summary

Price $2,100,000
Built/Renov 2023
Tenant Don Tortaco
Cap Rate 5.00%
Lease Type NN+
Guarantor Corporate
Size/SF 1,800
Lease Start 10-01-2023
#Units 21
Price/SF $1,166.67
Expiration 09-30-2043
Tenant Type Fast Food/QSR
NOI $105,000
R. Term 18.4
Ownership Fee Simple
Rent/SF $58.33
Increases 10.0%/5/yrs
Pop 5Mi 343,222
Lot/AC 0.00
Options 3/5yrs/10%
AHHI 5Mi $85,324

Lease Highlights

  • Brand new 2023 construction
  • Don Tortaco recently signed a brand new 20-year lease with 3 (5-year) options to extend
  • The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period
  • Favorable NN+ lease with landlord responsibilities limited to roof & structure
  • Income tax-free state

Location Description

This newly constructed, drive-thru-equipped Don Tortaco Mexican Grill is located near the signalized, hard corner intersection of E. Ann Road and N. 5th St. with a combined (42,900 VPD). The site benefits from nearby direct on/off ramp access to Interstate 15, a major thoroughfare averaging over 148,000 vehicles per day. Furthermore, the subject property is ideally situated in a dense...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Don Tortaco
  • Guarantor:Corporate
  • Company:Don Tortaco Corp.
  • # Units:21
  • Stock:Private

About Tenant

Don Tortaco Mexican Grill is a fast-food Mexican restaurant chain offering quick, affordable, and authentic recipes in a casual walk in atmosphere. The small restaurants are set up like a...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 30,880 163,458 366,479
2023 Total Population : 29,115 155,625 353,716
2023 Employed Civilian Pop : 13,326 70,778 148,829
2023 Total Businesses : 156 1,914 5,036
2023 Average Household Income : $ 89,274 $ 93,474 $ 84,354
2023 Total Consumer Spending : $ 707 M $ 4042 M $ 8392 M
2023 Median Age : 32 33 33
2023 Total Households : 9,137 50,000 114,292
2023 Pop Age 25+: Bachelor's Degree : 2,029 14,364 28,460
2023 Average Home Value : $ 365,395 $ 373,987 $ 379,163
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
North Fifth Street E el Campo Grande 2021 13,600 0.24 mi
N 5th St E Ann Rd 2017 7,700 0.24 mi
Commerce St Loyal Valley Ave 2017 9,300 0.29 mi
N 5th St Chula Vista Hills Dr 2017 12,000 0.46 mi
N 5th St E Tropical Pkwy 2017 10,000 0.59 mi
Cam Al Norte Edna Crane Ave 2017 18,900 0.84 mi
North Revere Street Rock Hollow 2021 5,500 0.84 mi
N Bruce St E Tropical Pkwy 2017 2,400 0.84 mi
W Washburn Rd Edna Crane Ave 2017 8,400 0.85 mi
West Ann Road Cam Eldorado 2021 13,000 0.93 mi

Listing Broker

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