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Updated: 08.06.24 Posted: 03.29.23 Status: Sold

Summary

Price $2,725,000
Built/Renov 2001
Tenant Denny's
Cap Rate 4.93%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 4,575
Lease Start 05-01-2023
#Units 200
Price/SF $595.63
Expiration 03-01-2033
Tenant Type Casual Dining
NOI $134,400
R. Term 7.10
Ownership Fee Simple
Rent/SF $29.38
Increases 8.0%/5/yrs
Pop 5Mi 215,915
Lot/AC 0.91
Options 4/5yrs/8%
AHHI 5Mi $86,964

Lease Highlights

  • Denny's has a 22+ year operating history at this location
  • Recently extended 10-year lease with 4 (5-year) options to extend
  • Lease features 8% rental increases every 5 years throughout the initial term and at each option period
  • Absolute NNN lease presents zero landlord responsibilities
  • Franchisee guaranteed by EYM Cafe Operation 

Location Description

Denny’s is strategically located along S. John Young Parkway with clear visibility and access to an average of 72,000 vehicles passing by daily. The asset benefits from a centralized location with direct access onto Florida’s Turnpike (112,000 VPD), Interstate 4 (194,000 VPD), and several state highways, providing easy access for employees and customers. Denny’s is ideally situated within Sand...

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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 number of restaurants. Founded by Harold Butler and Richard Jezak, who...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 124 71,725 226,207
2023 Total Population : 127 66,616 217,492
2023 Employed Civilian Pop : 70 35,786 118,922
2023 Total Businesses : 1,164 7,888 16,689
2023 Average Household Income : $ 58,190 $ 68,796 $ 86,111
2023 Total Consumer Spending : $ 2 M $ 1431 M $ 6041 M
2023 Median Age : 34 34 35
2023 Total Households : 46 23,654 80,400
2023 Pop Age 25+: Bachelor's Degree : 21 7,666 33,174
2023 Average Home Value : $ 192,308 $ 286,507 $ 394,381
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
S John Young Pkwy W Sand Lake Rd 2007 55,932 0.21 mi
W Sand Lake Rd S John Young Pkwy 2012 35,622 0.35 mi
W Sand Lake Rd S John Young Pkwy 2009 45,000 0.39 mi
S John Young Pkwy W Sand Lake Rd 2007 43,131 0.44 mi
S John Young Pkwy W Sand Lake Rd 2003 42,575 0.68 mi
Presidents Drive Exchange Dr 2021 8,000 0.68 mi
Florida's Turnpike S John Young Pkw 2019 112,000 0.70 mi
John Young Parkway Cordova PkDr 2021 70,500 0.72 mi
Presidents Dr Titan Row 2012 7,000 0.78 mi
Florida's Turnpike John Young Pkwy 2021 99,000 0.82 mi

Listing Broker

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