Taco Bell Lake City, Florida

$3,374,990
Cap Rate: 5.25%
Property type: Single-Tenant Net Lease

Property Details

Cap Rate: 5.25%
Price: $3,374,990
Rentable Square Feet: 2,225 SF
Annual Rent: $177,387
Price PSF: $1,594.49
Land Area: 0.6 Acres
Year Built: 1987
Lease Guarantor: Luihn VantEdge Partners, LLC
Lease Term: 20 Years
Lease Type: NNN
Option Periods: 4, 5-Year Options
Rental Increases: 10% Every 5 Years
Lease Expiration: 20 Years from COE

2411 West US Highway 90
Lake City, Florida 32055

Investment Highlights

  • Brand New, 20-Year Triple Net Sale-Leaseback, Commencing Upon Close of Escrow
  • Four, Five-Year Option Periods with 10% Rental Increases Every Five Years in Base Term and option Periods
  • Strong Franchisee; Luihn VantEdge Partners, LLC Owns and Operates 119 Restaurants Throughout NC, SC, FL and VA
  • Outparcel to Lake City Mall, Anchored by JC Penney, T.J. Maxx, Belk and Michael’s
  • Other Surrounding National Retailers Include Publix, Lowes, Walmart Supercenter, Home Depot, CVS, Hobby Lobby, Pet Supermarket, Planet Fitness, Office Depot, Cricket Wireless, Verizon, Panera Bread, Starbucks and Many More
  • Located off Highway 90, With a Daily Traffic Count of More Than 28,000 Vehicles
  • Within Close Proximity to Interstate 75, Which has a Daily Traffic Count of More Than 44,000 Vehicles

 

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a Taco Bell located in Lake City, Florida. This location is part of a six-unit Taco Bell portfolio or is available separately. This Taco Bell offers a brand new, 20-year, triple net sale leaseback which commences upon close of escrow. There are four, five-year renewal options with 10 percent rental increases every five years throughout the base term and option periods.

The lease is guaranteed by Luihn VantEdge Partners, LLC. Luihn VantEdge Partners is a strong franchisee which owns and operates 119 restaurants throughout North Carolina, South Carolina, Florida and Virginia, with over 3,200 talented employees.

The subject property is an outparcel to Lake City Mall, which is anchored by JC Penney, T.J. Maxx, Belk and Michael’s. Other surrounding national retailers include Publix, Lowes, Walmart Supercenter, Home Depot, CVS, Hobby Lobby, Pet Supermarket, Planet Fitness, Office Depot, Cricket Wireless, Verizon, Panera Bread, Starbucks and many more. The subject property is located off highway 90, with a daily traffic count of more than 28,000 vehicles, and is within close proximity to Interstate 75, which has a daily traffic count of more than 44,000 vehicles.

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