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Burger King Ground Lease, Tarpon Springs, FL

Burger King Ground Lease

Tarpon Springs, FL

Price $1,800,000
Cap Rate 5.00%
NOI $90,000
Lease Term 15 Years
Lease Type NNN Ground Lease, with Tenant Responsible for All Taxes, Insurance, and Maintenance
Rental Increases 10% Rental Increases Every 5 Years
Year Built 2018
Building Size 3,117 SF
Lot Size 0.61 Acres (26,768 SF)
Status Available
Lead Broker Information Michael T. Yuras, CCIM
Executive Managing Director
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Senior Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Ryan Forsyth
Executive Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Vincent Aicale
Executive Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Cushman and Wakefield Inc. LIC. # 00616335
This property is listed in conjunction with Texas-licensed real estate broker Delta Commercial.

Investment Highlights

LONG-TERM NNN GROUND LEASE TO ICONIC TENANT
» 15-year NNN ground lease with 10% rental increases every five years, providing a hedge against inflation
» Operated by Bravotampa, LLC, a subsidiary of Quality Dining, Inc. (QDI), a large Burger King/QSR franchisee that operates over 200 family-friendly restaurants in seven states, serving 75,000 guests each day and employing more than 8,000 staff members
» No landlord obligations—ideal low-management investment for an out-of-area investor
» Burger King is the second largest fast food hamburger chain in the world, with 16,767 restaurants in over 100 countries

HIGH-TRAFFIC LOCATION IN DENSE RETAIL CORRIDOR
» Located at the signalized intersection of Lake Street and U.S. Highway 19, with excellent visibility and access to 76,500 vehicles per day
» Part of a new retail development which includes a strip center tenanted by Aspen Dental and Firehouse Subs
» Within walking distance of Tarpon Mall—featuring Publix, T.J. Maxx, and Petco—and Tarpon Square, which includes major national tenants like Walmart Supercenter, Dollar Tree, Staples, and Big Lots

CENTRAL LOCATION WITH LARGE CUSTOMER BASE
» Minutes from St. Petersburg College – Tarpon Springs Campus, as well as Tarpon Springs Elementary School (644 students), Tarpon Springs Middle School (873 students), and Tarpon Springs High School (1,453 students)
» Close proximity to the 168-bed Florida Hospital North Pinellas
» Adjacent to Pinellas County’s largest lake, Lake Tarpon, regarded as one of the top bass fishing lakes in Florida
» Strong demographics, with with 134,974 people living within a five-mile radius

NEW CONSTRUCTION
» New construction featuring a dedicated double drive-thru, providing additional customer convenience and boosting sales revenue
» Building was built by tenant at tenant’s expense, demonstrating long-term commitment to the location

Click Here to Download Offering Memorandum


Property Description

The property is strategically located at the signalized intersection of Lake Street and U.S. Highway 19, with excellent visibility and access to 76,500 vehicles per day. Located in a dense retail corridor, the property is close to large shopping plazas and notable retailers. The property is part of a new retail development which includes a strip center tenanted by Aspen Dental and Firehouse Subs. The property is also within walking distance of Tarpon Mall—featuring Publix, T.J. Maxx, and Petco—and Tarpon Square, which includes major national tenants like Walmart Supercenter, Dollar Tree, Staples, and Big Lots. Other important tenants in the nearby area include CVS, Home Depot, Lowe’s, McDonald’s, Advance Auto Parts, and several car dealerships.

The property benefits from its prime location near several schools, important community amenities, and densely populated residential neighborhoods, providing a large customer base for Burger King. The property is minutes from St. Petersburg College – Tarpon Springs Campus, as well as Tarpon Springs Elementary School (644 students), Tarpon Springs Middle School (873 students), and Tarpon Springs High School (1,453 students). Additionally, the 168-bed Florida Hospital North Pinellas is just over a mile from the property. The property is also surrounded by popular recreational areas, including Pinellas County’s largest lake, Lake Tarpon, regarded as one of the top bass fishing lakes in Florida. Additionally, Fred Howard Park is located just a few minutes from the property and is visited by approximately two million people each year. The property is also located in a densely populated area, with 134,974 people living within a five-mile radius.

Contact Us About This Property

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