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Views: 152 DOM: 615 Updated: 08.06.24 Posted: 03.29.23 Status: Active

Summary

Price $3,420,000
Built/Renov 1976
Tenant Denny's
Cap Rate 4.91%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 3,869
Lease Start 11-01-1976
#Units 200
Price/SF $883.95
Expiration 03-01-2033
Tenant Type Casual Dining
NOI $168,000
R. Term 8.3
Ownership Fee Simple
Rent/SF $43.42
Increases 8.0%/5/yrs
Pop 5Mi 145,752
Lot/AC 0.26
Options 4/5yrs/8%
AHHI 5Mi $69,703

Lease Highlights

  • Denny's has a 47+ 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
  • The lease is franchisee guaranteed by EYM Group, Inc, a multi-brand franchisee company of over 200 restaurants

Location Description

Denny’s is strategically located at the signalized, hard corner intersection of Trouble Creek Road and U.S. Highway 19, averaging a combined 79,000 vehicles passing by daily. U.S. Highway 19 is a major north-south commuter route that connects Lake Erie in Pennsylvania to St. Petersburg, Florida. Denny’s is ideally situated as an outparcel to a 145,000+ SF Sam’s Club. In addition, the asset is...

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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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Traffic

Collection Street Cross Street Year Traffic Vol Distance
US 27 Orange Dr 2021 14,100 0.02 mi
US Hwy 27 Orange Dr 2009 16,600 0.21 mi
Griffin Rd Hwy 27 2009 4,800 0.45 mi
US Hwy 27 Griffin Rd 2008 13,800 0.60 mi
US 27 SW 54th Pl 2021 17,700 1.00 mi
Southwest 36th Street SW 202nd Ave 2021 3,500 1.21 mi
Griffin Road SW 199th Ave 2021 6,400 1.26 mi
Stirling Rd SW 210th Ter 2008 1,600 1.52 mi
Stirling Road SW 250th Ave 2021 2,150 1.68 mi
SW 26th St SW 200th Ave 2009 60 1.99 mi

Listing Broker

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