Checkers Restaurant | Corporate Guarantee | Miami MSA

3541 NW 8th Ave, Pompano Beach, FL 33064, USA
$1,302,000

Description

Marcus & Millichap is pleased to present for sale this corporate guaranteed Checkers Restaurant with Drive Thru in Pompano Beach, Florida. Pompano Beach is located just north of Fort Lauderdale and a short 35 minute drive from downtown Miami. This Checkers boasts strong sales which is indicated by a recent ten year lease extension executed by the tenant. Situated just off Interstate-95 on the mature retail corridor Sample Road, this location experiences daily traffic volume exceeding 56,000 vehicles per day. The area also features a host of national retailers including The Home Depot, Costco, Rooms To Go, CVS, Bank of America, Family Dollar, McDonald’s, Subway, Sprint, CarMax, IHOP, Wawa, 7-11 and several other service stations.
Pompano Beach is a city in Broward County, Florida situated just north of Fort Lauderdale and located in Florida’s Famous Gold Coast. The city has more than 150,000 residents that enjoy its sun filled beaches and aquatic activities. Pompano Beach is a short 12 minute drive to Fort Lauderdale International Airport providing convenience for its “snow bird” residents. Pompano Beach is centrally located between Miami and Palm Beach (33 miles from both).
Checkers Drive-In Restaurants, Inc., is one of the largest chains of double drive-thru restaurants in the United States. The company operates Checkers and Rally’s restaurants in 28 states and the  District of Columbia. They specialize in hamburgers, hot dogs, French fries, and milkshakes. Checkers and Rally’s had similar concepts, being almost exclusively drive-thru with very little seating. After the merger, Rally’s began redesigning its restaurants to follow the Checkers look. Today, Checkers and Rally’s restaurants look nearly identical, the only major difference being the name on the sign. In June 2006, the company went private through a merger with Taxi Holdings Corp., an affiliate of Wellspring Capital Management, a private equity firm. In 2014, Wellspring sold Checkers to another private equity firm, Sentinel Capital Partners.

  • Checkers Restaurant Drive In with Corporate Guaranteed Lease
  • Excellent Exposure: Traffic Counts Exceeding 56,500 Vehicles Per Day
  • Pompano Beach is Centrally Located Between Miami and Palm Beach County (33 Miles from Both)
  • Dense Population: More than 19,000 People in a 1 Mile Radius and 320,000 People in a 5 Mile Radius
  • Tenant Recently Extended Lease for 10 Years Showing Strong Commitment to the Site
  • Checkers is Considered an Essential Tenant with Sales Thriving Throughout the Pandemic
  • Florida is a No Income Tax State

Property Documents

  • Checkers-Pompano-Beach-FL-om-ib
  • City: Pompano Beach
  • State/county: Florida
  • Zip/Postal Code: 33064
  • Country: United States

Detail

  • Price: $1,302,000
  • Year Built: 1989

Additional details

  • CAP RATE: $5.00%
  • NOI: $65,100

Features