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Views: 96 DOM: 73 Updated: 11.08.24 Posted: 09.03.24 Status: Active

Summary

Price $7,095,000
Built/Renov 2004
Tenant Miller's Ale House
Cap Rate 5.75%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 10,530
Lease Start 06-27-2004
#Units 110
Price/SF $673.79
Expiration 07-31-2034
Tenant Type Casual Dining
NOI $408,013
R. Term 9.8
Ownership Fee Simple
Rent/SF $38.75
Increases 15.0%/5/yrs
Pop 5Mi 206,356
Lot/AC 3.07
Options 2/5yrs/15%
AHHI 5Mi $86,320

Lease Highlights

  • Miller's Ale House has been operating in this location since 2004
  • The tenant has 9+ years remaining on the current lease term with 2 (5-year) options to extend
  • The lease features 15% rental escalations throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Miller's Ale House is strategically located on Semoran Boulevard, a main traffic artery with access to 58,327 vehicles passing by daily. The property benefits from high visibility and easy access via a dedicated turn lane. Additionally, it is near Apartments at Lee Vista, which comprises over 1,800 units across four complexes. The immediate area features well-known national tenants, including...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Miller’s Ale House is an American restaurant and sports bar chain that serves steaks, chicken, burgers, salads, seafood, and similar items. Miller’s is known for its famous buttermilk-drenched,...


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Listing Broker

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