Arby’s Orlando, Florida

$1,722,222
Closed Single-Tenant
Property type: Single-Tenant Net Lease

The space

  • Price: $1,722,222
  • Cap Rate: 4.50%
  • Rentable Square Feet: 2,150
  • Annual Rent: $77,500
  • Price PSF: $801.03
  • Lease Guarantor: KBP Inspired, LLC | 115 Units
  • Lease Type: NNN Ground Lease
  • Rent Increases: 10% Every 5 Years
  • Lease Expiration: 3/31/2033

Description

1174 S. Kirkman Road
Orlando, FL 32811

Investment Highlights

  • Next 10 Percent Rent Increase Will be April 1, 2023
  • 15-Year, Franchise Guaranteed, Triple Net (NNN) Ground Lease with Approx. 12 Years Remaining
  • Four, Five-Year Renewal Options and 10 Percent Increases Every Five Years Throughout Base Term and Option Periods
  • Built in 2018, and Includes a Drive-thru
  • Part of Kirkman Station, a Newer Development with Tenants Including 24 Hour Fitness and Wawa
  • Located on Kirkman Road with a Daily Traffic Count of 56,500 Vehicles
  • Within Walking Distance from Valencia College
  • Four Miles from Universal Studios Florida

 

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire an Arby’s restaurant in Orlando, Florida. This Arby’s has a 15-year, franchise guaranteed, triple net ground lease with approximately 12 years remaining on the base term. The lease offers four, five-year tenant renewal options with 10 percent rent increases every five years throughout the base term and option periods.

The Subject Property is currently operated by RTM Operating Company, LLC. RTM is in active negotiations to sell majority of its Arby’s restaurants in the Orlando, Raleigh, and Washington DC/Baltimore markets to KBP Inspired, LLC. KBP will operate 77 Arby’s restaurants in those market areas, with 115 total Arby’s restaurants.

Seven miles from downtown Orlando, the subject property is part of the Metro West neighborhood, a master-planned, mixed-use community in Orlando, home to many young professionals. This is a high-traffic area with the subject property conveniently located at the intersection of Kirkman Road and Raleigh Street with more than 70,500 vehicles per day. Surrounding national retailers include Walmart Supercenter, 24 Hour Fitness, Planet Fitness, Wawa, Rainbow Shops, Cato Fashions, Dollar Tree, Chipotle, Applebee’s, Dunkin’ Donuts, Starbucks and many more.

This Arby’s is part of Kirkman Station, a development with tenants including Wawa and 24-Hour Fitness and has shared access with Valencia College which has a total enrollment of approximately 46,521 students and 1,600 faculty and staff. This Arby’s is part of the Orlando metro area, one of the largest and fastest growing areas in Florida, and is four miles from Universal Studios Florida.

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