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Views: 23 DOM: 46 Updated: 08.01.24 Posted: 08.01.24 Status: Active

Summary

Price $3,817,961
Built/Renov 2024
Tenant Taco Bell
Cap Rate 5.15%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 2,643
Lease Start 05-27-2024
#Units 350
Price/SF $1,444.56
Expiration 05-31-2049
Tenant Type Fast Food/QSR
NOI $196,625
R. Term 24.8
Ownership Fee Simple
Rent/SF $74.39
Increases 1.0%/1/yrs
Pop 5Mi 89,674
Lot/AC 1.39
Options 6/5yrs/1%
AHHI 5Mi $104,138

Lease Highlights

  • Brand-new 2024 construction
  • Taco Bell recently executed a new 25-year lease with 6 (5-year) options to extend
  • The lease features 1% annual rental escalations throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Lease guaranteed by Tacala (350 units backed)

Location Description

Taco Bell is strategically located on Veterans Parkway, with access to 20,100 vehicles passing by daily. The property is a pad site to the newly developed Old Town Marketplace, a Publix-anchored neighborhood shopping center with other well-known national tenants including Starbucks, Jersey Mike's, Guthrie’s, Jack's, and more. Additionally, it is across the street from the Encompass Health...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Taco Bell
  • Guarantor:Franchisee
  • Company:Tacala
  • # Units:350
  • Tenant S&P: BB+
  • Moody’s: Ba2
  • Stock: NYSE: YUM

About Tenant

Taco Bell is an American-based chain of fast food restaurants originating in Irvine, California in 1962, by founder Glen Bell. Taco Bell is the leading Mexican-inspired, quick-service restaurant...


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Listing Broker

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