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Views: 52 DOM: 78 Updated: 08.06.24 Posted: 06.22.24 Status: Active

Summary

Price $3,767,000
Built/Renov 2001
Tenant Cracker Barrel (GL)
Cap Rate 5.00%
Lease Type Abs NNN
Guarantor Corp Traded
Size/SF 12,120
Lease Start 12-05-2021
#Units 662
Price/SF $310.81
Expiration 12-04-2026
Tenant Type Casual Dining
NOI $188,326
R. Term 2.2
Ownership Ground Lease
Rent/SF $15.54
Increases 5.0%/5/yrs
Pop 5Mi 25,183
Lot/AC 2.10
Options 3/5yrs/5%
AHHI 5Mi $128,461

Lease Highlights

  • Cracker Barrel has 2+ years remaining on the current ground lease term with 3 (5-year) options to extend
  • The lease features 5% rental escalations at the start of each option period
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Cracker Barrel is strategically located near the signalized, hard corner intersection of Emerald Coast Parkway and Hutchinson Street, with a substantial combined daily traffic count of 82,000 vehicles. The property is ideally situated as an outparcel to Shoppes at Paradise Isle, a premier retail destination anchored by Michaels, Best Buy, and PetSmart. It is in an immense retail corridor,...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Cracker Barrel Old Country Store, Inc., doing business as Cracker Barrel, is an American chain of restaurant and gift stores with a Southern country theme. The company was founded by Dan Evins in...


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Listing Broker

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