Miller's Ale House (GL)

12175 West Colonial Drive, Winter Garden, FL 34787

$3,114,000

Cap Rate 6.00%

Views: 80 DOM: 28 Updated: 10.21.24 Posted: 09.25.24 Status: Active

Summary

Price $3,114,000	Built/Renov 2017	Tenant Miller's Ale House (GL)
Cap Rate 6.00%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 7,234	Lease Start 06-03-2016	#Units 110
Price/SF $430.47	Expiration 07-31-2032	Tenant Type Casual Dining
NOI $186,850	R. Term 7.9	Ownership Ground Lease
Rent/SF $25.83	Increases 10.0%/5/yrs	Pop 5Mi 152,410
Lot/AC 1.22	Options 4/5yrs/10%	AHHI 5Mi $114,729

Connor Shell

STREAM Capital Partners

Contact

Lease Highlights

Miller’s Ale House has 7+ years remaining on the current ground lease term with 4 (5-year) options to extend
The lease features 10% rental increases throughout the initial term and option periods
Sales in excess of $7M - 2.7% rent to sales
Absolute NNN lease | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

Miller's Ale House is strategically located on W Colonial Drive, with access to a high daily traffic count of 47,500 vehicles. The property is conveniently situated immediately west of FL-429 and north of the Florida Turnpike, providing access to nearly 200,000 VPD. The surrounding area features prominent national tenants, including Denny's, Arby's, McDonald's, Taco Bell, Dollar Tree, and...

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Key Features

Dense retail corridor
Near major nationals
Freeway close
Highway close
Top 100 MSA
Strong demographics
Income tax free state
Absolute NNN
Corporate Guarantee

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Links

Miller's Ale House Wikipedia Miller's Ale House Wikipedia Winter Garden, Florida Zip Code 34787 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Miller's Ale House
Guarantor:Corporate
Company:Roark Capital Group
# Units:110
Stock:Private

About Tenant

Miller’s Ale House is an American restaurant and sports bar chain that serves steaks, chicken, burgers, salads, seafood, and similar items. Miller’s is known for its famous buttermilk-drenched,...

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Listing Broker

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