Pollo Tropical (GL)

8851 West Commercial Boulevard, Tamarac, FL 33351

$2,230,000

Cap Rate 4.88%

Updated: 06.05.24 Posted: 03.25.24 Status: Sold

Summary

Price $2,230,000	Built/Renov 2019	Tenant Pollo Tropical (GL)
Cap Rate 4.88%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 3,500	Lease Start 06-09-2019	#Units 177
Price/SF $637.14	Expiration 06-30-2034	Tenant Type Fast Casual/Rest.
NOI $108,900	R. Term 9.1	Ownership Ground Lease
Rent/SF $31.11	Increases 10.0%/4/yrs	Pop 5Mi 411,931
Lot/AC 1.35	Options 5/5yrs/10%	AHHI 5Mi $97,568

Lease Highlights

Pollo Tropical has 10+ years remaining on the current ground lease term with 5 (5-year) options to extend
The lease features 10% rental escalations throughout the initial term and option periods
Absolute NNN | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

Pollo Tropical is strategically located on Commercial Boulevard, with access to 37,700 vehicles passing by daily. Situated in a densely populated residential area, the property enjoys a built-in consumer base. Moreover, it boasts excellent visibility and frontage, along with convenient access directly from West Commercial Boulevard. The immediate area is surrounded by well-known national...

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Key Features

Build to suit
Dense retail corridor
Near major nationals
Highway close
Top 100 MSA
Strong demographics
Income tax free state
Absolute NNN
Long 10+ yr lease
Corporate Guarantee

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Links

Pollo Tropical Wikipedia Pollo Tropical Wikipedia Tamarac, Florida Zip Code 33351 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Pollo Tropical
Guarantor:Corporate
Company:Authentic Restaurant Brands
# Units:177
Stock:Private

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 :	23,896	175,864	430,646
2023 Total Population :	21,364	172,932	420,171
2023 Employed Civilian Pop :	11,772	92,450	227,556
2023 Total Businesses :	722	7,545	18,024
2023 Average Household Income :	$ 81,263	$ 77,623	$ 82,826
2023 Total Consumer Spending :	$ 593 M	$ 4724 M	$ 11575 M
2023 Median Age :	44	45	42
2023 Total Households :	8,436	70,129	161,038
2023 Pop Age 25+: Bachelor's Degree :	3,727	26,138	63,865
2023 Average Home Value :	$ 286,015	$ 290,054	$ 328,074

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
W Commercial Blvd	N Pine Island Rd	2009	40,500	0.04 mi
NW 57th St	NW 91st Ave	2008	3,800	0.06 mi
Northwest 57th Street	NW 57th St	2021	1,600	0.16 mi
	NW 91st Ave	2022	1,600	0.16 mi
NW 88th Ave	NW 57th Dr	2008	31,000	0.16 mi
NW 88th Ave	NW 54th Ct	2008	28,500	0.23 mi
NW 94th Ave	NW 58th St	2008	6,600	0.39 mi
West Commercial Boulevard	NW 94th Ave	2022	31,000	0.40 mi
W Commercial Blvd	NW 84th Ter	2009	54,000	0.47 mi
North Pine Island Road	N Pine Island Rd	2022	30,500	0.51 mi

Listing Broker

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