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Views: 86 DOM: 182 Updated: 09.16.24 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 1.11
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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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 1,558 13,877 27,921
2024 Total Population : 1,493 12,882 25,989
2024 Employed Civilian Pop : 786 6,927 13,891
2024 Total Businesses : 556 1,462 2,962
2024 Average Household Income : $ 149,012 $ 139,011 $ 135,413
2024 Total Consumer Spending : $ 76 M $ 713 M $ 1362 M
2024 Median Age : 51 48 47
2024 Total Households : 596 5,955 11,641
2024 Pop Age 25+: Bachelor's Degree : 511 3,929 7,162
2024 Average Home Value : $ 801,437 $ 838,996 $ 754,200
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Emerald Coast Parkway Matthew Blvd 2019 60,000 0.33 mi
Emerald Coast Parkway Kelly Plantation Dr 2022 58,000 0.33 mi
Old Hwy 98 Hutchinson St 2005 52,000 0.40 mi
Mid-Bay Bridge Road Legendary Dr 2022 24,000 0.46 mi
Scenic Highway 98 Barracuda St 2022 8,400 0.51 mi
Kelly Plantation Dr 2022 13,600 0.54 mi
Mid-Bay Bridge Rd Kelly Plantation Dr 2005 22,000 0.77 mi
Emerald Coast Parkway Vinings WayBlvd 2022 51,000 0.79 mi
Commons Drive West Triumph Rd 2021 16,500 1.15 mi
Scenic Highway 98 Conch Cay 2022 8,400 1.35 mi

Listing Broker

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