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Denny's | Brand New 15 Yr Lease 1245 N Atlantic Ave 7,952 SF Retail Building Cocoa Beach, FL 32931 $2,500,000 ($314.39/SF) 6% Cap Rate
Investment Highlights
- New 15-Year Lease | Strong Franchisee (200+ Unit Operator) | Well-Known & Established Brand
- Banana River Square | Primary Retail Corridor
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
- Strong Demographics In 5-Mile Trade Area
Executive Summary
• Established (200+ Unit Operator) - Contact Agent for Details on Units under the Lease
• EYM Group is a multi-brand franchisee company of Denny’s, Pizza Hut, and Panera Bread restaurants
• The tenant, Denny’s, will sign a brand new 15 year lease at the close of escrow, demonstrating their commitment to the site
• The lease features 10% rental increases every 5-years throughout the initial term and at the beginning of the option period, providing a hedge against inflation and steadily growing NOI
• EYM Group is a multi-brand franchisee company of Denny’s, Pizza Hut, and Panera Bread restaurants
• The tenant, Denny’s, will sign a brand new 15 year lease at the close of escrow, demonstrating their commitment to the site
• The lease features 10% rental increases every 5-years throughout the initial term and at the beginning of the option period, providing a hedge against inflation and steadily growing NOI
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
7,952 SF
Building Class
B
Year Built
1982
Price
$2,500,000
Price Per SF
$314.39
Cap Rate
6%
NOI
$150,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.13
Lot Size
1.37 AC
Zoning
RM2
Parking
62 Spaces (7.8 Spaces per 1,000 SF Leased)
Amenities
- Pylon Sign
- Restaurant
Nearby Major Retailers
Property Taxes
| Parcel Number | 25-37-10-00-00014.0-0000.00 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $1,048,450 |
Property Taxes
Parcel Number
25-37-10-00-00014.0-0000.00
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,048,450
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Denny's | Brand New 15 Yr Lease | 1245 N Atlantic Ave
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