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DOM: 253 Updated: 07.08.24 Posted: 09.19.23 Status: Sold 05.30.24

Summary

Price $3,067,700 $3,267,000
Built/Renov 2014
Tenant McDonald's (GL)
Cap Rate 4.26% 4.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 5,547
Lease Start 12-01-2014
#Units 40,275
Price/SF $553.04 $588.97
Expiration 11-30-2034
Tenant Type Fast Food/QSR
NOI $130,680
R. Term 9.6
Ownership Ground Lease
Rent/SF $23.56
Increases 10.0%/1/yrs
Pop 5Mi 222,169
Lot/AC 1.28
Options 6/5yrs/10%
AHHI 5Mi $81,988

Lease Highlights

  • McDonald’s has 11+ years of firm term remaining with 6 (5-year) options to extend
  • The ground lease features 10% rental increases every 5 years throughout the initial term and options
  • Absolute NNN | Zero landlord responsibilities
  • The lease is signed by the corporate entity (S&P: BBB+ | NYSE: MCD)
  • Income tax free state

Location Description

McDonald’s is strategically located along Gulf to Bay Boulevard with clear visibility and access to an average of 59,500 vehicles passing by daily. The asset benefits from direct access onto U.S. Highway 19 (119,000 VPD), Farm to Market Road 611 (69,000 VPD), and several other major commuter routes, making this a centralized location with easy access for both employees and customers....

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: McDonald's
  • Guarantor:Corp T and Rated
  • Company:McDonald's Corporation
  • # Units:40,275
  • Tenant S&P: BBB+
  • Moody’s: Baa1
  • Stock: NYSE: MCD

About Tenant

McDonald's Corporation, dba McDonald’s, is an American-based, multinational fast food chain. McDonald's is best known for its hamburgers, cheeseburgers, and french fries, although their...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 12,784 77,308 223,658
2023 Total Population : 11,908 75,983 222,909
2023 Employed Civilian Pop : 5,818 39,236 111,579
2023 Total Businesses : 676 4,115 11,801
2023 Average Household Income : $ 77,403 $ 86,815 $ 83,893
2023 Total Consumer Spending : $ 406 M $ 2635 M $ 7411 M
2023 Median Age : 44 48 48
2023 Total Households : 5,979 34,953 101,573
2023 Pop Age 25+: Bachelor's Degree : 1,964 12,884 36,129
2023 Average Home Value : $ 246,186 $ 338,724 $ 325,278
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Gulf to Bay Boulevard Elizabeth Ave 2021 51,500 0.05 mi
Gulf To Bay Blvd Breakers on the Bay Rd 2011 59,500 0.20 mi
Sky Harbor Drive Gulf To Bay Blvd 2021 3,600 0.29 mi
Drew Street Tanglewood Dr 2021 22,000 0.55 mi
Drew St N Hampton Rd 2011 20,269 0.58 mi
Gulf To Bay Blvd Clearwater Mall 2011 59,500 0.58 mi
CR-611 SB Gulf To Bay Blvd 2021 1,300 0.58 mi
TO SR-60 WB Gulf To Bay Blvd 2021 1,300 0.59 mi
TO SR-60 EB Gulf To Bay Blvd 2021 1,300 0.61 mi
CR-611 NB Gulf To Bay Blvd 2021 1,300 0.62 mi

Listing Broker

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