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Views: 62 Updated: 10.31.23 Posted: 04.13.23 Status: Sold

Summary

Price $3,450,000 $3,625,000
Built/Renov 2023
Tenant ALDI (GL)
Cap Rate 4.20% 4.00%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 19,209
Lease Start 05-01-2023
#Units 7,162
Price/SF $179.60 $188.71
Expiration 04-30-2043
Tenant Type Grocery
NOI $145,000
R. Term 18.4
Ownership Ground Lease
Rent/SF $7.55
Increases 6.0%/5/yrs
Pop 5Mi 295,711
Lot/AC 2.27
Options 6/5yrs/6%
AHHI 5Mi $91,600

Lease Highlights

  • ​Brand-new 2023 construction
  • Aldi recently signed a brand-new 20-year lease with 6 (5-year) options to extend
  • Lease features 6% rental increases throughout the initial term and at each option period
  • Absolute NNN lease with zero landlord responsibilities
  • Low cost/PSF investment
  • Corporate guarantee by ALDI South Group

 

 

Location Description

This newly constructed ALDI is located at the signalized, hard corner intersection of Lakeworth Boulevard and Polo Road within a brand-new shopping center with access to 44,000 vehicles per day. The site benefits from nearby direct on/off ramp access to the Florida Turnpike, a major thoroughfare serving the state of Florida averaging over 80,700 VPD. National/credit tenants in the area include...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: ALDI (GL)
  • Guarantor:Corporate
  • Company:ALDI South Group
  • # Units:7,162
  • Stock:Private

About Tenant

ALDI is a small-format supermarket chain focusing on creating an efficient shopping experience, saving customers time and money without sacrificing quality. ALDI mainly sells a range of grocery...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 12,785 82,070 235,678
2023 Total Population : 10,685 79,394 233,800
2023 Employed Civilian Pop : 5,332 37,370 115,912
2023 Total Businesses : 371 3,402 8,214
2023 Average Household Income : $ 139,936 $ 120,196 $ 109,031
2023 Total Consumer Spending : $ 472 M $ 3179 M $ 7906 M
2023 Median Age : 44 49 42
2023 Total Households : 3,999 30,976 84,211
2023 Pop Age 25+: Bachelor's Degree : 2,064 14,737 36,781
2023 Average Home Value : $ 508,452 $ 441,227 $ 409,607
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Lake Worth Rd Lyons Rd 2013 33,680 0.16 mi
Lake Worth Rd S 85th Ave 2009 35,815 0.17 mi
Lyons Rd Lake Worth Rd 2013 6,101 0.23 mi
Lyons Rd Wokker Dr 2019 14,808 0.25 mi
S 85th Ave Lake Worth Rd 2009 1,891 0.31 mi
Polo Rd 45th St S 2009 752 0.31 mi
Lake Worth Road S 85th Ave 2021 42,500 0.33 mi
Lake Worth Road S 85th Ave 2020 43,500 0.33 mi
Lake Worth Rd Talbot Blvd 2013 34,794 0.34 mi
Lake Worth Rd Hooks Rd 2016 46,000 0.49 mi

Listing Broker

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