Taco Bell NNN Ground Lease | Extremely Low Rent

1859 County Rd 419, Oviedo, FL 32765, USA
$1,600,000

Description

Marcus & Millichap is pleased to present for sale this Absolute-Net Ground Lease Taco Bell located at 1859 West County Road 419 in Oviedo, Florida. This property is an out-parcel to Winn-Dixie and is demised of a 2,808 square foot restaurant with drive thru on a large 1.16 Acre Parcel of Land. Oviedo is a city in Seminole County Florida and is part of the Orlando-Kissimmee- Sanford Metropolitan Statistical Area with a population of over 40,370. Oviedo is nationally ranked as one of the best places to live in the United States.
Several Colleges and Universities surround this Taco Bell property. Seminole State College (Oviedo Campus) has over 7,000 enrolled students, 180 acres and a 120-acre Nature Preserve and is only nine minutes from the property. Only 15 minutes away is the University of South Florida with over 66,183 students and 20 minutes away is the highly ranked Embry-Riddle Aeronautic
University with over 6,402 students.
Several hospitals are also in close vicinity to the property including Oviedo Medical Center only 13 minutes away, 12 minutes away is Orlando Health Heart Institute which is part of the Orlando Health System with 3,000 beds and the fourth largest employer in the area with 22,000 employees and 2,000 physicians. 14 minutes away is Advent Health Hospital with 64 beds.
Oviedo is a booming suburb in the Orlando Metro Area where the population is expected to grow by 50 percent by 2045 and several brand-new home developments are in close vicinity to this Taco Bell. Only nine minutes away from the property is M/I Homes at Hideaway Cove with 66 brand new homes closed, 42 under contract and only 5 Quick Move-in homes left. Chapman Pines by Pulte Homes is a brand-new luxury housing development with 37 single family luxury homes and only 12 minutes from the property. Lennar Estates at Wellington is 15 minutes away with 26 brand new homes. Also within walking distance to this Taco Bell is Oviedo Grove which is a 240-unit apartment complex.
Taco Bell is the world’s leading Mexican-style quick service restaurant chain, serving almost 3 billion consumers each year in more than 7,072 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 93 percent of Taco Bell restaurants are owned
and operated by independent franchisees.

  • Extremely Low Rent Absolute NNN Ground Lease with more than 5 Years Remaining on the Base Term of the Lease
  • Strong Intrinsic Value and Priced Below Replacement Cost: 2,808 Square Foot Restaurant with Drive Thru on a Large 1.16 Acre Parcel of Land
  • Oviedo is a Booming Suburb in the Orlando Metro Area where the Population is Expected to Grow by 50% by 2045
  • Average Household Income Exceeds $103,000 in a Three Mile Radius
  • Several Hospitals in Close Vicinity to the Taco Bell including Orlando Health Heart Institute, Advent Health Hospital and Oviedo Medical Center
  • Outparcel to a Winn Dixie Shopping Center and Across the Street from a Publix Anchored Shopping Center
  • Florida is a No Income Tax State

Property Documents

  • City: Oviedo
  • State/county: Florida
  • Zip/Postal Code: 32765
  • Country: United States

Detail

  • Price: $1,600,000
  • Year Built: 2019

Additional details

  • CAP RATE: 4.12%
  • NOI: $65,885

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