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

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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

Contact

Photograph of Listing Agent

Brett Kaplan

OPTIMUS CREIA MFCRE Member
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