Peter Piper Pizza North Lauderdale, Florida

$2,285,000
Cap Rate: 5.25%
Property type: Single-Tenant Net Lease

Property Details

Cap Rate: 5.25%
Price: $2,285,000
Rentable SF: 7,540 SF
Annual Rent: $120,000
Rent PSF: $15.92
Land Area: 1.15 Acres
Year Built: 2019
Lease Type: NNN
Lease Term: 15 Years
Option Periods: 4, 5-Year Options
Lease Expiration: 3/31/2034 est

7900 West McNab Road
North Lauderdale, FL 33068

Investment Highlights

  • Brand New, 15-Year, NNN Lease
  • Lease Guaranteed by CEC Entertainment, Inc., Owner and Operator of Chuck E. Cheese’s
  • Outparcel to Walmart Supercenter
  • Four, Five-Year Renewal Options
  • 10% Rent Increases Every Five Years in Base Term
  • Peter Piper Pizza is Part of the Chuck E. Cheese Family

 

Investment Overview

The Peter Piper Pizza located at 7900 West McNab Road in North Lauderdale has a brand new, 15-year, triple net (NNN) lease. There are four, five-year renewal options with 10 percent rental increases every five years throughout the base term. Peter Piper Pizza is part of the Chuck E. Cheese’s family. The lease is guaranteed by CEC Entertainment, Inc., who is also the owner and operator of Chuck E. Cheese’s

This is a brand new location, construction begins in summer of 2018. This Peter Piper Pizza location will be an outparcel to Walmart Supercenter. Other surrounding national retailers include Publix, Home Depot, Ross, Aldi, Walgreens, CVS, Bank of America and many more. The subject property is located in Broward County, which contains a population of 1.9 million people.

For More Information, Download OM: 

Download Barry Wolfe V-Card

Download Alan Lipsky V-Card