Dunkin' Donuts Gainesville

NW62nd Ave & NW 23rd Street Gainesville, FL 32653

SUMMARY

Garito and Company is pleased to offer for sale a 100% fee simple interest in the newly constructed, free-standing Dunkin’ Donuts with drive-thru located at the Northwest corner of NW 62nd Avenue & NW 23rd Avenue in Gainesville, FL. The location will be open Q4 of 2019 and will be sold with a 20-year NNN lease term, no landlord responsibilities and rent steps every 5 years. The Property is strategically located directly in front of a Walmart Supercenter which sits on the SW corner of NW 62nd & NW 23rd Avenue.

PROPERTY HIGHLIGHTS

  • STRONG OPERATOR
  • DENSE RESIDENTIAL POPULATION IN THE GROWING MARKET
  • EXCELLENT VISIBILITY
  • TRAFFIC GENERATING NEIGHBORS
  • BRAND NEW CONSTRUCTION
  • HIGH TRAFFIC COUNTS

SITE SPECIFICATIONS

TOTAL GLA:

1,435 SF

Site Area:

0.75 Acres

Lease Expiration:

2039

Increases:

8.00% every five years

Options:

Four (five year options)

DEMOGRAPHICS

RADIUS

3 MILE

5 MILE

POPULATION

38,719

102, 865

Avg. Household Income (2018)

$68,679

$46,780

Med. Household Income (2018)

$55,193

$48,764

PROPERTY OVERVIEW

TENANT NAME:

DUNKIN’ DONUTS

FRANCHISE:

Southern Star Restaurant Manager

Grantor

Personal Guarantee

OWNERSHIP TYPE/LEASE TYPE:

FEE SIMPLE/NNN

LANDLORD RESPONSIBILITIES:

NONE

STORE OPENING:

Q3 2019 (estimated)

LEASE TERM REMAINING:

20 YEARS

PRICE:

$1,700,000

YEAR-ONE NOI:

$85,000

CAP RATE:

5.00%