Pollo Tropical Absolute NNN Lease | Corporate Guarantee | Orlando MSA

489 W State Rd 436, Altamonte Springs, FL 32714, USA
$3,674,926

Description

Marcus & Millichap is pleased to present for sale this Pollo Tropical fast- food restaurant located at 489 State Road 436 in Altamonte Springs (Orlando MSA), Florida. Altamonte Springs is a suburb minutes away from downtown Orlando and major employment hubs such as Maitland Center and Lake Mary. This property is located only nine minutes from Advent Health Hospital, a 398-bed hospital serving over 200,000 patients a year including 84,000 emergency patients, 23,000 patients, 2,500 baby deliveries, 12,000 surgeries and 98,171 outpatient procedures. Also only 12 minutes away is Orlando Health South Seminole Hospital, a 206-full service medical/surgical hospital serving the community for over 35 years. Located a short six minutes away is Troy University with over 12,995 students and 10 minutes away is Everglades University with 1,498 students and 350 staff. Los Altos Apartment Community is a modern community with over 516 apartment units and only five minutes from this property. Retailers in the immediate area include Best Buy, Home Depot, Walgreens and the United States Postal Service.
Altamonte Springs is a suburban city in Seminole County, Florida with a population exceeding 41,496. This suburb belongs to the Orlando-Kissimmee-Sanford Metropolitan Area with a population exceeding 2,054,574. Orlando International Airport is only 30 minutes south of Altamonte Springs and Orlando Sanford International is only 25 minutes north.
Pollo Tropical is a growing fast- food restaurant founded in 1988 by two brothers from Miami, Larry and Stuart Harris. Its unique strategy of grilling the marinated chicken in the customers’ view with no prepackaged or precooked menu items resounded favorably with customers and grew to open 19 locations all in that year. In 1998, Pollo Tropical was sold to Carrol’s restaurant Group which is Burger King’s largest franchisee and rapid expansion continued with 69 company-owned stores and numerous franchisees in Latin America and the Caribbean.
Today, Pollo Tropical is a subsidiary of Fiesta Restaurant group, Inc. which was spun off from Carroll’s Restaurant Group in 2012. Fiesta owns and operates Pollo Tropical and Taco Cabana restaurant brands, with headquarters in the Doral area of Miami. The company currently owns and operates more than 140 locations throughout Florida, plus 5 licensed restaurants on
college campuses and 32 franchised locations in the Caribbean, Central America, South America and Puerto Rico.

  • Pollo Tropical Corporate Guaranteed Absolute NNN Lease
  • Long Term Lease with 10% Increases in Rent every 5 Years in the base term and options
  • Large 3,458 Square Foot Restaurant with Drive Thru on a Large 1.14 Acre Parcel of Land
  • Excellent Exposure on State Road 436 with more than 54,000 Vehicles Per Day Traffic Counts
  • Located 9 minutes from Advent Health Hospital, a 398-bed hospital serving over 200,000 patients a year including 84,000 emergency patients
  • Dense Demographics: 100,000 People in a Three Mile Radius with Average Household Income in Excess of $81,000 Per Year
  • Pollo Tropical is considered an Essential Tenant
  • Florida is a No Income Tax State

Property Documents

  • Pollo-Tropical-Altamonte-Springs-FL-om-ib
  • City: Altamonte Springs
  • State/county: Florida
  • Zip/Postal Code: 32714
  • Country: United States

Detail

  • Price: $3,674,926
  • Year Built: 1994

Additional details

  • CAP RATE: 4.75%
  • NOI: $174,559

Features