Taco Bell Jacksonville, Florida SINGLE TENANT NET-LEASED
Taco Bell Jacksonville, Florida SINGLE TENANT NET-LEASED INVESTMENT OFFERING
For More Information: Paul Bonanno Direct 760-452-2402 / Fax 760-452-2407 Net Leased Real Properties [email protected]
Taco Bell Jacksonville, Florida PROPERTY SUMMARY TENANT:
Southeast QSR, LLC. dba Taco Bell
LOCATION:
7637 Lem Turner Road Jacksonville, FL 32208
PRICE:
$1,100,000
CAP:
6.75%
NOI:
$74,367.53
LEASE TERMS:
Original 15 Years on Absolute NNN Lease Lease Expires 11/30/21 with two x 10 year options
RENT INCREASES:
1.75% Annual Increases- Next Increase 11/1/11.
SQUARE FEET:
Approximately 2,108 +/- sf
LOT SIZE:
Approximately 40,426 +/- sf
YEAR BUILT:
1997
LEASE COMMENCEMENT:
11/26/06
PROPERTY DESCRIPTION: The property is ideally located on the east side of Lem Turner Road which serves as a busy commercial thoroughfare for the area from I-95. Property has plenty of parking and a drive-thru facility with good visibility and access from the street. Subject site is surrounded by commercial developments including Walgreen’s, Tires Plus, Wachovia Bank, Duncan Donuts, Checker’s, Burger King and Hardee’s. There are many SFR and Multi-Family developments in the immediate vicinity. City of Jacksonville is located on the Northeastern coast of Florida with a major port. Economy is supported by a large Naval Base and several insurance and financial companies headquartered in town.
Taco Bell Jacksonville, Florida LEASE SUMMARY TENANT:
Taco Bell
GUARANTOR:
Southeast QSR, LLC
LEASE COMMENCEMENT:
11/21/2006
LEASE EXPIRATION:
11/30/2021
SQUARE FOOTAGE:
2,108 S.F. +/-
RENT:
Year 4:
$74,367.53
Year 5: Year 6: Year 7: Year 8: Year 9: Year 10: Year 11: Year 12: Year 13: Year 14: Year 15: Option 1: Year 2: Year 3: Year 4: Year 5: Year 6: Year 7: Year 8: Year 9: Year 10:
$75,668.96 $76,993.17 $78,340.55 $79,711.51 $81,106.46 $82,525.82 $83,970.02 $85,439.50 $86,934.69 $88,456.04 $90,004.02 $91,579.09 $93,181.73 $94,812.41 $96,471.62 $98,159.88 $99,877.67 $101,625.53 $103,403.97 $105,213.53 $107,054.76
LEASE TYPE:
NNN
OPTIONS:
2 x 10 year
RENTAL INCREASES:
1.75% annual
TENANT INFORMATION: The tenant, Southeast QSR, LLC, is a Yum! Brands franchisee that operates 59 Taco bell restaurants and 1 Pizza Hut Express restaurant concentrated in the Jacksonville, Pensacola-Mobile, and Augusta markets. The company is one of the Top 15 Taco Bell franchisees based on restaurant count and is the dominant Taco Bell franchisee in all of its primary markets. Southeast QSR has a strong management team comprised of a President and a Vice President of Operations with a combined 60 years of restaurant experience. The company earned Taco Bell’s Certified Developer status in 2010 and is one of only 10 franchisees out of more than 350 to earn the Certified Developer distinction.
Taco Bell Jacksonville, Florida DEBT SUMMARY ORIGINAL LOAN AMOUNT:
$550,000
OUTSTANDING PRINCIPAL:
$510,000 (approx)
INTEREST RATE:
6.625%
TERM:
10 Years (with additional 10 after rate resets)
AMORTIZATION:
25 Years
ANNUAL P & I:
$45,081
LOAN COMMENCEMENT:
March 2007
Taco Bell Jacksonville, Florida INVESTMENT SUMMARY PURCHASE PRICE:
$1,100,000
ASSUMABLE LOAN:
$ 510,000
DOWNPAYMENT:
$ 590,000
NET INCOME:
$
74,368
DEBT SERVICE:
$
45,081
CASH FLOW:
$
29,287
CAP RATE:
6.75%
YEAR 1 CASH ON CASH:
4.96%
YEAR 1 TOTAL RETURN:
9.34%
PRICE/SF:
$521.82
RENT/SF:
$35.28
(53.6%)
Taco Bell Jacksonville, Florida
Taco Bell Jacksonville, Florida
Taco Bell Jacksonville, Florida
For More Information: Paul Bonanno Direct 760-452-2402 / Fax 760-452-2407 Net Leased Real Properties [email protected]
Taco Bell Jacksonville, Florida PROPERTY SUMMARY TENANT:
Southeast QSR, LLC. dba Taco Bell
LOCATION:
7637 Lem Turner Road Jacksonville, FL 32208
PRICE:
$1,100,000
CAP:
6.75%
NOI:
$74,367.53
LEASE TERMS:
Original 15 Years on Absolute NNN Lease Lease Expires 11/30/21 with two x 10 year options
RENT INCREASES:
1.75% Annual Increases- Next Increase 11/1/11.
SQUARE FEET:
Approximately 2,108 +/- sf
LOT SIZE:
Approximately 40,426 +/- sf
YEAR BUILT:
1997
LEASE COMMENCEMENT:
11/26/06
PROPERTY DESCRIPTION: The property is ideally located on the east side of Lem Turner Road which serves as a busy commercial thoroughfare for the area from I-95. Property has plenty of parking and a drive-thru facility with good visibility and access from the street. Subject site is surrounded by commercial developments including Walgreen’s, Tires Plus, Wachovia Bank, Duncan Donuts, Checker’s, Burger King and Hardee’s. There are many SFR and Multi-Family developments in the immediate vicinity. City of Jacksonville is located on the Northeastern coast of Florida with a major port. Economy is supported by a large Naval Base and several insurance and financial companies headquartered in town.
Taco Bell Jacksonville, Florida LEASE SUMMARY TENANT:
Taco Bell
GUARANTOR:
Southeast QSR, LLC
LEASE COMMENCEMENT:
11/21/2006
LEASE EXPIRATION:
11/30/2021
SQUARE FOOTAGE:
2,108 S.F. +/-
RENT:
Year 4:
$74,367.53
Year 5: Year 6: Year 7: Year 8: Year 9: Year 10: Year 11: Year 12: Year 13: Year 14: Year 15: Option 1: Year 2: Year 3: Year 4: Year 5: Year 6: Year 7: Year 8: Year 9: Year 10:
$75,668.96 $76,993.17 $78,340.55 $79,711.51 $81,106.46 $82,525.82 $83,970.02 $85,439.50 $86,934.69 $88,456.04 $90,004.02 $91,579.09 $93,181.73 $94,812.41 $96,471.62 $98,159.88 $99,877.67 $101,625.53 $103,403.97 $105,213.53 $107,054.76
LEASE TYPE:
NNN
OPTIONS:
2 x 10 year
RENTAL INCREASES:
1.75% annual
TENANT INFORMATION: The tenant, Southeast QSR, LLC, is a Yum! Brands franchisee that operates 59 Taco bell restaurants and 1 Pizza Hut Express restaurant concentrated in the Jacksonville, Pensacola-Mobile, and Augusta markets. The company is one of the Top 15 Taco Bell franchisees based on restaurant count and is the dominant Taco Bell franchisee in all of its primary markets. Southeast QSR has a strong management team comprised of a President and a Vice President of Operations with a combined 60 years of restaurant experience. The company earned Taco Bell’s Certified Developer status in 2010 and is one of only 10 franchisees out of more than 350 to earn the Certified Developer distinction.
Taco Bell Jacksonville, Florida DEBT SUMMARY ORIGINAL LOAN AMOUNT:
$550,000
OUTSTANDING PRINCIPAL:
$510,000 (approx)
INTEREST RATE:
6.625%
TERM:
10 Years (with additional 10 after rate resets)
AMORTIZATION:
25 Years
ANNUAL P & I:
$45,081
LOAN COMMENCEMENT:
March 2007
Taco Bell Jacksonville, Florida INVESTMENT SUMMARY PURCHASE PRICE:
$1,100,000
ASSUMABLE LOAN:
$ 510,000
DOWNPAYMENT:
$ 590,000
NET INCOME:
$
74,368
DEBT SERVICE:
$
45,081
CASH FLOW:
$
29,287
CAP RATE:
6.75%
YEAR 1 CASH ON CASH:
4.96%
YEAR 1 TOTAL RETURN:
9.34%
PRICE/SF:
$521.82
RENT/SF:
$35.28
(53.6%)
Taco Bell Jacksonville, Florida
Taco Bell Jacksonville, Florida
Taco Bell Jacksonville, Florida
