Checkers (GL)

575 W International Speedway Blvd, Daytona Beach, FL 32114

$951,000

Cap Rate 5.75%

Views: 73 DOM: 128 Updated: 08.22.24 Posted: 05.03.24 Status: Active

Summary

Price $951,000	Built/Renov 1994	Tenant Checkers (GL)
Cap Rate 5.75%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 814	Lease Start 12-01-1993	#Units 850
Price/SF $1,168.30	Expiration 02-28-2029	Tenant Type Fast Food/QSR
NOI $54,656	R. Term 4.5	Ownership Ground Lease
Rent/SF $67.14	Increases 10.0%/5/yrs	Pop 5Mi 129,446
Lot/AC 0.66	Options 3/5yrs/10%	AHHI 5Mi $62,602

Lease Highlights

Checkers has been operating in this location for 30+ years
The tenant has 4+ years remaining on the current ground lease term with 3 (5-year) options to extend
The lease features 10% rental escalations throughout the initial term and option periods
Absolute NNN | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

Checkers is strategically located at the signalized, hard corner intersection of W. International Speedway Boulevard and M.L.K. Blvd S, with access to 37,600 vehicles passing by daily. The property is situated along International Speedway Blvd, a major retail thoroughfare that also features the Daytona International Speedway, home of the iconic Daytona 500. Additionally, Daytona International...

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Key Features

Signalized intersection
Hard corner intersection
Dense retail corridor
Near major nationals
Dense 100M+ pop 5 mi
Top 100 MSA
Income tax free state
Long operation history
Absolute NNN
Corporate Guarantee

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Links

Checkers Wikipedia Checkers & Rally's Wikipedia Daytona Beach, Florida Zip Code 32114 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Checkers
Guarantor:Corporate
Company:Oak Hill Capital Partners
# Units:850
Stock:Private

About Tenant

Checkers is a drive-in chain that offers hamburgers, hot dogs, french fries, milkshakes, and other fast food products through its chain of restaurants under the brand names Checkers and...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	11,651	67,505	130,848
2023 Total Population :	11,192	67,248	129,446
2023 Employed Civilian Pop :	3,603	28,299	58,136
2023 Total Businesses :	1,021	4,753	7,722
2023 Average Household Income :	$ 41,771	$ 55,750	$ 62,602
2023 Total Consumer Spending :	$ 148 M	$ 1422 M	$ 3230 M
2023 Median Age :	32	40	46
2023 Total Households :	3,993	28,954	58,772
2023 Pop Age 25+: Bachelor's Degree :	766	6,644	15,799
2023 Average Home Value :	$ 223,432	$ 242,138	$ 257,948

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Volusia Ave	Emmet St	2008	28,500	0.07 mi
North Martin Luther King Boulevard	Oak St	2022	4,600	0.11 mi
North Charles Street	International Sp	2022	22,500	0.17 mi
Volusia Ave	Lockhart St	2018	28,500	0.26 mi
Orange Ave	Division St	2008	6,530	0.28 mi
Orange Ave	S Lincoln St	2008	9,290	0.30 mi
Volusia Ave	N Seagrave St	2000	33,000	0.31 mi
Dr Mary McLeod Bethune Blvd	N Lincoln St	2008	4,000	0.34 mi
North Lincoln Street	Dr Mary McLeod B	2022	5,000	0.35 mi
N Seagrave St	Bay St	2009	1,312	0.36 mi

Listing Broker

William Wamble

SRS National Net Lease Group

Contact

171 Listings
14851 Views
40 Sold

Patrick Nutt

SRS National Net Lease Group

Contact

247 Listings
19870 Views
83 Sold

William Wamble

Will Wamble joined SRS in early 2019 and specializes in the advisory and sale of net leased properties, specifically in the Southeast. With more than $350M worth of transactional experience in his career, Will prides himself on valuing hard work and dedication to his clients. Will emphasizes collaboration and putting the best team together to find creative solutions to getting transactions completed. He started his commercial real estate career in 2013 with Marcus & Millichap where he focus

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Patrick Nutt

Patrick Nutt joined SRS as executive vice president for the National Net Lease Group and market leader in the Fort Lauderdale office in 2019. He leads the Fort Lauderdale office where he is tasked with recruiting and expansion efforts in the region and elevating the SRS brand throughout Florida. Additionally, Patrick Co-heads the National Net Lease Group for SRS, a group of 50 investment sales professionals who in 2020 managed over 500 transactions with an aggregate value of nearly $2 Billion

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