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| Price $3,200,000 | Built/Renov 2015 | Tenant Denny's |
| Cap Rate 5.08% | Lease Type
Abs NNN | Guarantor Franchisee |
| Size/SF
4,500
| Lease Start
03-01-2016
| #Units
122
|
| Price/SF $711.11 | Expiration
02-28-2036
| Tenant Type Casual Dining |
| NOI $162,475 | R. Term 11.2 | Ownership Fee Simple |
| Rent/SF
$36.11
| Increases 10.0%/5/yrs | Pop 5Mi 34,357 |
| Lot/AC 0.84 | Options 2/5yrs/10% | AHHI 5Mi $62,598 |
| | |
• The tenant, Sunrise Restaurants LLC, has over 12 years remaining on its current lease term with 2 (5-year) options to extend
• The lease features 10% rental increases every 5 years throughout the initial term and option periods
• Sunrise Restaurants is the largest Denny’s franchisee in the U.S. with over 120 locations, and is an affiliate of WKS Restaurant Group
Denny’s is strategically located along S. White Sands Blvd, with an average of 18,800 vehicles passing by daily. The site benefits from excellent visibility via significant street frontage and a large pylon sign. Furthermore, the property is ideally situated in a dense retail corridor with numerous nearby national/credit tenants including Walmart Supercenter, Staples, Aaron’s, Circle K,...
...Dense retail corridor
Near major nationals
Strong tenant synergy
Highway close
Store sales reported
Absolute NNN
Long 10+ yr lease
100+ unit franchisee backed
Personal guarantee
Publicly traded company
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...
| 1 Miles | 3 Miles | 5 Miles | |
| 2027 Total Population : | 4,435 | 29,490 | 34,816 |
| 2022 Total Population : | 4,280 | 29,172 | 34,357 |
| 2022 Employed Civilian Pop : | 1,907 | 12,686 | 14,798 |
| 2022 Total Businesses : | 224 | 988 | 1,195 |
| 2022 Average Household Income : | $ 59,862 | $ 61,366 | $ 62,598 |
| 2022 Total Consumer Spending : | $ 91 M | $ 673 M | $ 801 M |
| 2022 Median Age : | 40 | 40 | 40 |
| 2022 Total Households : | 1,773 | 12,655 | 14,789 |
| 2022 Pop Age 25+: Bachelor's Degree : | 413 | 2,487 | 2,978 |
| 2022 Average Home Value : | $ 174,210 | $ 160,688 | $ 167,542 |
| Collection Street | Cross Street | Year | Traffic Vol | Distance |
| South White Sands Boulevard | Mercury Ave | 2020 | 16,142 | 0.24 mi |
| Mercury Ave | Saturn Cir | 2003 | 4,484 | 0.25 mi |
| Mercury Avenue | Uranus Dr | 2020 | 795 | 0.37 mi |
| Charlie Lee Memorial Relief Route | Zuni Dr | 2020 | 11,191 | 0.49 mi |
| Panorama Boulevard | Uranus Dr | 2020 | 4,422 | 0.50 mi |
| S Florida Ave | Mimosa Ave | 2003 | 5,374 | 0.52 mi |
| South Florida Avenue | Sherwood Dr | 2020 | 6,744 | 0.54 mi |
| West 1st Street | W 1st St | 2020 | 1,330 | 0.55 mi |
| North White Sands Boulevard | 2018 | 1,620 | 0.55 mi | |
| 1st Street | 2018 | 11,191 | 0.56 mi |
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Address: 929 Alton Road, Suite 500
Miami Beach, FL 33139
Telephone: (305) 977-7700
E-mail: [email protected]
