Tropical Smoothie Cafe

11710 Abercorn Street, Savannah, GA 31419

$2,072,000

Cap Rate 5.75%

Views: 103 DOM: 27 Updated: 09.13.24 Posted: 08.20.24 Status: Active

Summary

Price $2,072,000	Built/Renov 2019	Tenant Tropical Smoothie Cafe
Cap Rate 5.75%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 1,558	Lease Start 12-01-2019	#Units 107
Price/SF $1,329.91	Expiration 12-01-2039	Tenant Type Fast Casual/Rest.
NOI $119,124	R. Term 15.2	Ownership Fee Simple
Rent/SF $76.46	Increases 1.5%/1/yrs	Pop 5Mi 83,981
Lot/AC 0.46	Options 2/5yrs/1.5%	AHHI 5Mi $93,228

Lease Highlights

Tropical Smoothie Cafe has 15+ years remaining on the current lease term with 2 (5-year) options to extend
The lease features 1.5% annual rental escalations throughout the initial term and option periods
Absolute NNN lease | Zero landlord responsibilities
Lease guaranteed by DYNE Hospitality Group (107 units backed)

Location Description

Tropical Smoothie Cafe is strategically located at the signalized, hard corner intersection of Abercorn Street and Mercy Boulevard, with access to a combined daily traffic count of 45,500 vehicles. The property is adjacent to St. Joseph's Hospital & Emergency Room, a leading healthcare provider in the region. Additionally, the immediate area features well-known national retailers such as...

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Key Features

Signalized intersection
Hard corner intersection
Dense retail corridor
Near major nationals
Affluent suburb location
Major MSA
Long 15+ yr lease
Absolute NNN
Annual rent increases
100+ unit franchisee backed

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Links

Tropical Smoothie Cafe Wikipedia Tropical Smoothie Cafe Wikipedia Savannah, Georgia Zip Code 31419 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Tropical Smoothie Cafe
Guarantor:Franchisee
Company:DYNE Hospitality Group
# Units:107
Stock:Private

About Tenant

Tropical Smoothie Cafe, also referred to as Tropical Smoothie or Tropical is a restaurant franchise in the United States. Their fast-casual cafes are known for their various assortments of healthy...

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Listing Broker

Todd Lewis

Secure Net Lease

Contact

9 Listings
243 Views
0 Sold

Bob Moorhead

Secure Net Lease

Contact

70 Listings
5561 Views
33 Sold

Todd Lewis

Todd Lewis is an investment specialist, focusing on single tenant net lease assets. He has 9 years of experience in Commercial Real Estate, completed 80+ transactions, and sold over $175M worth of investment properties throughout his career. Todd graduated from Vanderbilt University in 2013 with a degree in entrepreneurship and marketing. He has previously worked at CoStar, NAI Northern California, and Sands Investment Group where he received multiple awards for being a top performer. In his fr

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Bob Moorhead

Bob Moorhead is a founding partner of Secure Net Lease and brings over 20 years of commercial real estate experience to the executive team. Prior to Secure Net Lease, Bob was the Managing Director of EXP Realty Advisors (formerly Kimco Exchange Place) Dallas, Texas office. While at EXP, Bob was a top producer and responsible for establishing the Dallas office, building the team and platform. Since 2011, Bob has been involved in over 600 transactions with a value exceeding $1.5 billion.

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