Trophy Palm Beach County Checkers Restaurant

7041 N Seacrest Blvd, Lantana, FL 33462, USA
$2,850,000

Description

Marcus & Millichap is pleased to offer for sale this triple net leased, Checkers located at 7041 Seacrest Boulevard, Lantana in Florida. Located just a short five minute drive from the Palm Beach International Airport.
The subject property consists of a 816 square foot restaurant with drive thru window and ample parking and is strategically located on Hypoluxo Road, with combined daily traffic counts in excess of 51,455 and benefits from over 253,430 full time residences with a house hold income exceeding $70,479 annually. There are 18 years remaining on the absolute net lease (NNN) where the landlord has no responsibilities to the property.
The offering provides three percent increases annualy. This parcel benefits of a .67-acre parcel. There are numerous National and Regional retailers in the immediate area including Mobil, Race Trac, Taco Bell, Tire Kingdom, Wendy’s, Family Dollar, Popeyes, Chevron, Holiday Inn and Shell among others.
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.

  • I-95 Highway Location with Late Hours (Open 9AM to 4AM)
  • Absolute Triple Net Lease “No Landlord Responsibility”
  • Over 253,430 Residents in the Market Area
  • Average HHI Exceeding $70,479
  • 18+ Year Lease with 3% Increase Annualy
  • 10 Minute Drive to Palm Beach International Airport
  • Located .1 Miles – Directly off the Hypoluxo Road Exit from I-95 with Direct Exposure to over 37,165 Vehicles per Day
  • I-95 Has Traffic Counts in Excess of 217,000 Vehicles Per Day

Property Documents

  • City: Lantana
  • State/county: Florida
  • Zip/Postal Code: 33462
  • Country: United States

Detail

  • Price: $2,850,000
  • Year Built: 2018

Additional details

  • CAP RATE: 5.23%
  • NOI: $149,170

Features

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