Pollo Tropical

11429 Pines Blvd, Pembroke Pines, FL 33026

$4,271,000

Cap Rate 4.75%

$4,508,000

Cap Rate 4.50%

Updated: 01.11.24 Posted: 11.22.23 Status: Sold

Summary

Price $4,271,000 $4,508,000	Built/Renov 1994	Tenant Pollo Tropical
Cap Rate 4.75% 4.50%	Lease Type Abs NNN	Guarantor Corp Traded
Size/SF 3,832	Lease Start 01-01-2020	#Units 177
Price/SF $1,114.56 $1,176.41	Expiration 12-31-2034	Tenant Type Fast Casual/Rest.
NOI $202,861	R. Term 9.7	Ownership Fee Simple
Rent/SF $52.94	Increases 10.0%/2/yrs	Pop 5Mi 400,141
Lot/AC 1.00	Options 4/5yrs/10%	AHHI 5Mi $112,665

Patrick Nutt

SRS National Net Lease Group

Contact

Lease Highlights

Pollo Tropical has been operating in this location for over 20 years
Tenant has 10+ years remaining on the current lease term with 4 (5-year) options to extend
Lease features 10% rental increase every 5 years throughout the initial term and at the start of each option
Absolute NNN | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

Pollo Tropical is strategically located directly along Pines Boulevard, with access to 69,000 vehicles passing by daily. It holds a prime location within the primary retail corridor in the area, surrounded by all major retailers within a 3-mile radius. The property serves as an outparcel to Pembroke Lakes Mall, anchored by Macy’s, JCPenney, and Dillard’s. This location is part of a dense...

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Key Features

In location for years
High traffic 50M+ VPD
Dense retail corridor
Shopping Ctr out-parcel
Top 100 MSA
Income tax free state
Absolute NNN
Long 10+ yr lease
Corporate Guarantee
Publicly traded company

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Links

Pollo Tropical Wikipedia Pollo Tropical Wikipedia Pembroke Pines, Florida Zip Code 33024 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Pollo Tropical
Guarantor:Corp Traded
Company:Fiesta Restaurant Group
# Units:177
Stock:NASDAQ: FRGI

About Tenant

Pollo Tropical was founded in 1988 by two brothers from Miami, Larry and Stuart Harris. The chicken recipe was the result of Larry’s studying cookbooks on Latin American cuisine and conducting...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	25,615	154,652	400,917
2023 Total Population :	25,403	150,168	400,141
2023 Employed Civilian Pop :	15,316	81,612	214,408
2023 Total Businesses :	1,069	6,723	15,496
2023 Average Household Income :	$ 83,458	$ 93,365	$ 101,096
2023 Total Consumer Spending :	$ 742 M	$ 4634 M	$ 12003 M
2023 Median Age :	37	41	39
2023 Total Households :	10,184	57,639	137,910
2023 Pop Age 25+: Bachelor's Degree :	3,802	23,405	59,711
2023 Average Home Value :	$ 350,874	$ 386,853	$ 420,474

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Pines Blvd	NW 118th Ave	2008	54,000	0.32 mi
Johnson Street	NW 10th St	2021	8,800	0.35 mi
N Hiatus Rd	Johnson St	2008	21,500	0.44 mi
Pines Blvd	S Hiatus Rd	2009	50,000	0.51 mi
Johnson St	NW 119th Ave	2008	11,100	0.54 mi
North Hiatus Road	NW 23rd St	2022	19,800	0.62 mi
North Hiatus Road	S Lakeview Dr	2021	19,900	0.62 mi
N Flamingo Rd	Pines Blvd	2009	43,000	0.65 mi
South Hiatus Road	S Hiatus Rd	2022	23,500	0.65 mi
Washington Street	S Hiatus Rd	2018	29,500	0.65 mi

Listing Broker

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