Spanky's Cheesesteak Factory 309 N State Road 7

Investment Highlights

Restaurant with a proven revenue stream that has been established since 1978. Current tenant has a 10 year lease

Executive Summary

New to market, this freestanding established prime building is located just two blocks South of one of the busiest intersections in Broward County with a 115,000 daily car count. The retail building is configured as a restaurant with a proven revenue stream that has been established since 1978 with a loyal customer base and prime location. The lot is 100'X179 and is easily accessible off 441-St.Rd.7 and has ample parking for 26 cars. The restaurant has a seating capacity of 65 and comes with all equipment. The current tenant has a 10 year lease with two five year options and yearly 3% rent increases. The building is ADA compliant and the roof was recently siliconized and the parking lot blacktopped. Seller open to financing. Seller is licensed real estate agent.

• Sale Type    Investment
• Property Type    Retail
• Property Subtype    Restaurant Restaurant General Retail Fast Food General Retail Freestanding General Retail Storefront Restaurant
• Building Size    2,100
• Building Class    C
• Year Built    1977
• Price    990,000
• Price Per SF    471
• Cap Rate    5.37
• NOI    53,210
• Percent Leased    100
• Tenancy    Multiple
• Building Height    1 Story
• Building FAR    0.12
• Land Acres    0.41 AC

• Restaurant