Taco Bell Absolute NNN Lease

1319 Dunn Ave, Jacksonville, FL 32218, USA
$2,070,500

Description

Marcus & Millichap is pleased to present for sale this Taco Bell located at 1319 Dunn Avenue in Jacksonville, Florida. The Taco Bell consists of a 2,808 square foot building situated on a .38 Acre Parcel of Land. Taco Bell has just under two years remaining on the base term of the lease with two (10 year) options to extend with 1.5 percent annual increases in rent.
Taco Bell is on an absolute NNN lease, responsible for procuring and paying direct all operating expenses including real estate taxes and insurance and paying utilities directly. The tenant is also responsible for the repairs and replacements of the building, sidewalks, parking areas, roof and structure. The lease is guaranteed by the franchisee, Southeast QSR, LLC which is owned by Prometheus Partners LP. Southeast QSR owns and operates YUM! Brands franchises in Alabama, Florida, Georgia, Mississippi, and South Carolina. The company operates 58 Taco Bell restaurants and Pizza Hut Express restaurant.
Southeast QSR Holdings, LLC was founded in 1987 and is based in Martinez, Georgia. Taco Bell is the world’s leading Mexican-style quick service restaurant chain, serving over 2 billion consumers each year in more than 5,800 restaurants in the United States. It is an American chain of fast-food restaurants based in Irvine, California. A subsidiary of YUM! Brands, Inc., serving American adapted Mexican food, over 80 percent of Taco Bell restaurants are owned and operated by independent franchisees.

  • Rare freestanding Taco Bell with an absolute NNN Lease and No Landlord Responsibilities
  • Annual 1.5% Increases in Rent during the base term and options
  • Traffic Counts Exceeding 29,000 Vehicles Per Day
  • Strong Demographics: 51,000 People in a 3 Mile Radius with Average Household Income Exceeding $58,000 Per Year
  • Florida is a No Income Tax State

Property Documents

  • TacoBell-Jacksonville-FL-om-ib
  • City: Jacksonville
  • State/county: Florida
  • Zip/Postal Code: 32218
  • Country: United States

Detail

  • Price: $2,070,500
  • Year Built: 2008

Additional details

  • CAP RATE: 8.50%
  • NOI: $176,000

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