Just Listed! Dunkin Donuts & Nail Salon

$2,262,720

Description

Investment Overview:

Marcus & Millichap is pleased to present for sale a two-tenant Dunkin
Donuts and Nail Salon located at 700 34th Street North in Saint
Petersburg, Florida. Dunkin Donuts occupies 2,997 SF and the Nail
Salon occupies 968 SF, of the 3,965 square foot building. Both tenants
just executed new lease extensions, with Dunkin Donuts extending for
10 years while the nail salon was given five years. Both leases are NNN
with no slippage; even management is reimbursed. The Dunkin Donuts
benefits from a drive thru, a tremendous amenity in a post Covid world.
The nail salon is paying only $14.60 per SF, which is a fraction of market
rent.
The property is located on busy 34th Street North, which sees 39,900
cars daily. This location is in central Saint Petersburg, consequently, it is
in the heart of everything. Within three miles are 136,409 residents, two
hospitals, Downtown Saint Petersburg, and countless retailers, including
Super Walmart, Sam’s Club, Floor & Décor, Winn Dixie, and myriad QSRs,
banks, and hotels. Saint Petersburg is in Pinellas County, which is the
most densely populated county in Florida.
Saint Petersburg is a booming city on Florida’s Gulf Coast and is part of
the Tampa Bay Area and nicknamed “Sunshine City.” Its population is
growing with a current population of over 261,338 people. St. Petersburg
is only a short commute to Tampa’s Urban Center. St. Petersburg is the
5th largest city in Florida and the second largest city in the Tampa Bay
Area. It is part of the Tampa-Saint Petersburg-Clearwater Metropolitan
area with a population of over 2.8 Million.
This property offers an investor the opportunity to purchase a stable,
minimal management, two-tenant corner property in a tremendous
growing market. An investor can enjoy the stability of a net leased asset,
while benefiting from diversified income, below market rent, and a
higher return.

Investment Highlights:

■ Dunkin Donuts and Nail Salon with Recent Lease Extensions
■ Upcoming Building Remodel to the Latest Dunkin Donuts
Prototype
■ Very Strong Traffic Counts Exceeding 39,000 Vehicles Per Day
■ NNN Leases, Minimal Management, All Expenses Reimbursed
■ Building Features: Drive Thru and Solar Panels
■ Minutes from Downtown St. Petersburg, Surrounded by
Retailers, Close to Hospitals and Universities
■ Tremendous Demographics: 137,000 People in a 3 Mile
Radius
■ Dunkin’ Donuts is the World’s Leading Coffee and Baked
Goods Restaurant with over 11,200 Locations and 1.37 Billion
Dollars in Revenue Annually
■ Florida is a No Income Tax State

Address

  • City: St. Petersburg
  • State/county: Florida
  • Country: United States

Detail

  • Price: $2,262,720

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