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Views: 40 DOM: 34 Updated: 11.07.24 Posted: 10.12.24 Status: Active

Summary

Price $2,288,000
Built/Renov 1993/2017
Tenant Denny's
Cap Rate 6.00%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 4,670
Lease Start 05-10-2017
#Units 1
Price/SF $489.94
Expiration 05-31-2037
Tenant Type Casual Dining
NOI $137,280
R. Term 12.6
Ownership Fee Simple
Rent/SF $29.40
Increases 10.0%/5/yrs
Pop 5Mi 73,049
Lot/AC 1.23
Options 0/0yrs
AHHI 5Mi $97,891

Lease Highlights

  • Denny’s has 12+ years remaining on the current lease term with no options to extend
  • The lease features 10% rental increases every 5 years throughout the base term
  • Absolute NNN lease | Zero landlord responsibilities
  • Experienced operator | The franchisee that operates this location, EYM Diner has been operating several Denny’s restaurants since 2012 in Florida and the Dallas-Ft. Worth area

Location Description

Denny's is strategically located on N. Woodland Boulevard, with access to 23,000 vehicles passing by daily. The property is surrounded by notable national tenants such as Subway, Waffle House, Advance Auto Parts, Burger King, Sunoco, and more. Additionally, it is just one mile north of Stetson University, a well-known four-year private university. The 5-mile trade area serves a population of...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Denny's, or Denny's Corp (NASDAQ: DENN), is one of America’s largest full-service restaurant chains based on the number of restaurants. Founded by Harold Butler and Richard Jezak, who...


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Listing Broker

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