Absolute NNN Dunkin' Bakery with New 10-Yr Lease
Industrial
for Sale
| Catylist Listing ID: |
27154905 |
| Property Subtypes: |
Warehouse/Distribution
|
| Building Size (RSF): |
10,899 SF
|
| Gross Land Area: |
0.96 Acres
|
| Sale Price: |
$1,400,000 |
| Unit Price: |
$128.45 PSF |
| Docks/Doors: |
2 Docks, 3 Doors |
| Property Use Type: |
Net Leased Investment (NNN), Business |
| Building Name: |
Dunkin' Donuts Central Manufacturing Facility |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
6.07% |
| Last Updated: |
3/11/2020 |
Overview / Comments
|
Brand new, 10-year NNN lease with two 5-year options goes into effect January 1st, 2020. The property sits on just about one acre and has ample parking in the front as well as parking for delivery trucks in the back. There are two overhead doors with two overhead doors with two docks for one door, and one dock for the other door. There is a stable franchisee tenant in place operating over 60 stores and an excellent NNN lease with zero owner responsibilities and 10% escalators every 5 years. The structure is concrete block and has had multiple improvements since the tenants have taken possession. The improvements include fences, building expansion, roof replacement, hookup to sewer, and the addition of a $250K HVAC system. The tenants also recently expanded their distribution from 47 to 55 stores. As a result, operations were increased and expanded within the building. This is a mission critical facility with two runs per day, 7 days a week. This is a perfect income producing property priced very well!
|
Financials
| Finance Data Year |
2016 |
| Net Operating Income |
$96,880 (Annual) |
| Actual or Proforma Year |
Actual |
| Finance Data Year |
2012 |
| Finance Data Year |
2011 |
Additional Details
| Nearest MSA: |
Punta Gorda |
| County: |
Charlotte |
| Tax ID/APN: |
402334281007 |
| Zoning: |
CG |
| Highway Access: |
Close to I-75 and on US-17 Highway. |
| Airports: |
Punta Gorda Airport (PGD) |
| Site Description: |
Highly stable tenant in place; Has two loading docks.; Has refrigeration.; Renovated in 2005.; Close to I-75 and on US-17 Highway. |
| Area Description: |
New construction and residents to the area. |
| Tenancy: |
Single Tenant |
| Total Number of Buildings: |
1 |
| Number of Stories: |
1 |
| Property Condition: |
Good |
| Year Built: |
1981 |
| Year Renovated: |
2005 |
| Construction/Siding: |
Concrete |
| Exterior Description: |
Originally built in 1981, it has been through some renovations over the years. The structure is concrete block. |
| Parking Type: |
Surface |
| Parking Description: |
At least 20 parking spaces in the front, along with parking for trucks in the back. There are three docks for two doors. |
| Total Parking Spaces: |
20 |
| Legal Description: |
SOUTH CLEVELAND BLK 34 A STRIP OF LAND FROM NW SIDE OF LT 2 TAPERING FROM 19FT WIDE AT NE END TO 3 FT AT SW END & PART OF LT 4 DESC AS BEG AT SW COR OF LT 4 BLK 34 TH NE 204FT SE 210FT SW 211.79FT NW 62.16 FT SW 4.36FT NW 110FT TO POB 331/128 358/806 772/10 791/100-101 E1182/1684 2292/978 |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
1,243 |
15,050 |
47,759 |
| Median Age: |
60.59 |
49.89 |
54.11 |
| Households: |
586 |
6,600 |
21,773 |
|
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