1000 International Speedway Blvd
Daytona Beach, FL 32114
Steak 'n Shake · Retail Property For Sale

The restaurant is corporately owned & operated by Steak ‘n Shake, Inc., a wholly owned subsidiary of Biglari Holdings, a publicly traded company. In 2017 there were 615 Steak ‘n Shake locations with many more planned for 2018 & beyond. Historical Sales are exceptionally strong at this location and are more than double the national average for the successful chain of restaurants. Steak n’ Shake is an out-parcel to Midtown Plaza, a 94,000 SF shopping center currently under redevelopment with plans for national-credit tenants and additional out-parcels. The property is incredibly well positioned at the northwest, signalized intersection of the city’s two busiest commercial corridors: International Speedway Boulevard and Nova Road, with a combined 80,000 vehicles per day passing the property. Daytona Beach serves as a major Florida tourist destination with an estimated eight million visitors per year spending $3.3 billion annually. The Daytona International Speedway is just 1.5 miles west of the Steak ‘n Shake with the famed beaches just three miles to the east. The immediate area is also home to numerous universities, with an estimated 34,000 students, as well as the world headquarters of NASCAR, the LGPA and Hawaiian Tropic. The 3,678 SF building with drive-thru lane is situated on a +/- 0.8 acre parcel. Steak ‘n Shake has an Absolute NNN ground lease with no landlord responsibilities, and is responsible for maintaining the entire premises and all improvements. The tenant pays a fixed annual rent through the base term & options of $121,000. In addition, Steak ‘n Shake also pays a 3% percentage rent over sales of $3.2 million, a threshold that has already been exceeded and is expected to continue to climb due to additional business growth as well as anticipated annual inflation over the coming years.