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Views: 56 DOM: 121 Updated: 11.25.24 Posted: 08.23.24 Status: Active

Summary

Price $3,000,000
Built/Renov 2024
Tenant Mission BBQ (GL)
Cap Rate 5.00%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 4,618
Lease Start 10-01-2024
#Units 135
Price/SF $649.63
Expiration 09-30-2039
Tenant Type Fast Casual/Rest.
NOI $150,000
R. Term 14.9
Ownership Ground Lease
Rent/SF $32.48
Increases 10.0%/5/yrs
Pop 5Mi 107,588
Lot/AC 1.21
Options 6/5yrs/10%
AHHI 5Mi $116,425

Lease Highlights

  • Brand-new 2024 construction
  • New 15-year ground lease with 6 (5-year) options to extend
  • The lease features 5% rental increases every 5 years throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Mission BBQ is strategically located on Highway 50, with access to a high daily traffic count of 66,000 vehicles. The property is part of the new Clermont West retail development, featuring well-known national tenants such as Portillo’s, LongHorn Steakhouse, and Bonefish Grill. Clermont West 2 will include additional businesses such as The Goddard School, Extra Space Storage, and Extended Stay...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Mission BBQ
  • Guarantor:Corporate
  • Company:Mission BBQ
  • # Units:135
  • Stock:Private

About Tenant

Mission BBQ is an American fast casual barbecue restaurant chain. Restaurants serve authentic barbecue in a patriotic dining room. Mission BBQ is known for its smoked meat platters and sandwiches,...


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Listing Broker

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