About This Restaurant
Investment Highlights
Over 9 Years Remaining | Annual Rental Increases | Established Brand Dense Retail Corridor | Strong National/Credit Tenant Presence | Keystone Heights High School (1,236 students) Strong Demographics in 5-Mile Trade Area | Gainesville MSA Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities Situated Along State Hwy 21 (9,300 VPD) | Excellent Visibility & Access
Executive Summary
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, freestanding, Domino?s investment property located in Keystone Heights, Florida (Gainesville MSA). The tenant, Domino?s, has over 9 years remaining with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 2% annual rental increases throughout the initial term and option periods, steadily growing NOI and hedging against inflation. The subject property has a rent to sales ratio of 2.41%. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor. Founded in 1960, Domino?s Pizza is the largest pizza company in the world, with a significant business in both delivery and carryout pizza. It ranks among the world?s top public restaurant brands with a global enterprise of more than 20,000 stores in over 90 markets.
Property Details
- Sale Type Investment NNN
- Property Type Retail
- Property Subtype Freestanding Freestanding General Retail Fast Food General Retail Restaurant Freestanding
- Building Size 2,880
- Building Class C
- Year Built/Renovated 1974/1995
- Price 827,000
- Price Per SF 287
- Cap Rate 5.85
- NOI 48,390
- Tenancy Single
- Building Height 1 Story
- Building FAR 0.09
- Land Acres 0.75 AC
Amenities
- Freeway Visibility
- Pylon Sign
- Restaurant
- Signage
Property Taxes
Parcel Number | 17-08-23-001795-000-00 | Improvements Assessment | $108,801 |
Land Assessment | $251,199 | Total Assessment | $360,000 |
Date Created: | 2024-07-16 04:13:32 | Last Updated: | 2024-07-16 04:13:32 |
Address: | 7403 State Road 21 , Keystone Heights, Florida, 32656 |