DUNKIN' DONUTS & BASKIN ROBBINS

2209 N Young Blvd., Chiefland, FL 32626

 

SUMMARY

Garito and Company is pleased to offer for sale a 100% fee simple interest in a free-standing Dunkin’ and Baskin-Robbins with drive-thru. The property will be sold with a new 20 year Absolute NNN Lease starting from the close of escrow. This location is an outparcel to a Walmart Supercenter serving a broad market area. Other tenants in the area include: Walgreens, CVS, Burger King, Taco Bell, O’Reilly Auto Parts, Winn-Dixie, and Dollar Tree.

PROPERTY HIGHLIGHTS

  • STRATEGIC LOCATION
  • DENSE RESIDENTIAL POPULATION IN THE GROWING MARKET
  • EXCELLENT VISIBILITY
  • TRAFFIC GENERATING NEIGHBORS
  • LIMITED COMPETITION
  • GREAT LEASE TERMS

SITE SPECIFICATIONS

TOTAL GLA:

3,845 SF

SITE AREA:

1.2 _+ ACRES

LEASE EXPIRATION

2038

INCREASES:

8.00% EVERY FIVE YEARS

OPTIONS:

FOUR (FIVE-YEAR OPTIONS)

PROPERTY OVERVIEW

TENANT NAME:

DUNKIN’ DONUTS and Baskin-Robbins

FRANCHISEE:

southern star restaurant management

GUARANTOR:

PERSONAL guarantee- OVER 120 UNIT OPERATOR

OWNERSHIP TYPE/LEASE TYPE:

FEE SIMPLE/ ABSOLUTE NNN

LANDLORD RESPONSIBILITIES:

NONE

TRANSACTION TYPE:

SALE - LEASEBACK

LEASE TERM REMAINING:

20 YEARS

PRICE:

$1,666,667

YEAR-ONE NOI:

$90,000

CAP RATE:

5.40%

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