Dunkin’ Donuts St. Petersburg, Florida

$2,225,000
Cap Rate: 5.25%
Under Contract
Property type: Single-Tenant Net Lease

Property Details

Cap Rate: 5.25%
Year Built: 2017
NOI: $116,822
Building Size: 2,050 sq. ft.
Lot Size: 0.79 Acres
Lease Expiration: 12/31/2032 est.

Description

Address:

3934 49th Street N
St. Petersburg, FL 33709

This brand new Dunkin’ Donuts has a 15-Year, triple net lease with four, five-year renewal options, and 10 percent rental increases every five years in both base term and option periods for this newly constructed site.

Dunkin’ Brands has 19,000 points of distribution in nearly 60 countries worldwide. Dunkin’ Brands Group is one of the world’s leading franchisors of quick service restaurants. The current franchisee, Purple Square Management Co. owns and operates 48 Dunkin Donuts/ Baskin Robbins locations and was recently named Dunkin Brands’ Southeast franchisee of the year. Purple Square Management Co. has entered a partnership with New Orleans Saints quarterback, Drew Brees to build 69 Dunkin Donuts stores in the State of Louisiana.

St. Petersburg is part of the Tampa Bay area, which has roughly of 2.8 million residents. St Petersburg and St. Pete Beach are popular vacation destinations for American and foreign tourists. In addition, St Petersburg is the fifth most populous city in the state of Florida and the largest city in Florida that is not a county seat. This Dunkin’  Donuts is also conveniently located 20 miles from Tampa, Florida.

The subject property is four miles away from St Petersburg College, St. Petersburg/Gibbs Campus and five miles from Tropicana Field, home of the MLB’s Tampa Bay Rays. It is six miles from downtown St. Petersburg and the University of South Florida at St. Petersburg, eight miles from St Pete Beach and Eckerd College. It is strategically positioned and surrounded by national retailers including Publix, Beall’s, Dollar Tree, Walgreens, Pet Supermarket, Advance Auto Parts, Anytime Fitness, PNC Bank, Bank of America, McDonald’s, Subway and many more.

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