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Taco Bell & Planet 13 - Edgewater FL 1308 S Ridgewood Ave 4,887 SF 100% Leased 4-Star Retail Building Edgewater, FL 32132 $3,524,000 ($721.10/SF) 6.75% Cap Rate
Investment Highlights
- Strong Tenant Lineup | 100% Occupied | NNN Leases | Annual Rental Increases
- Florida Shores Plaza (81,000 SF) | Dense Retail Corridor | New Smyrna Beach Regional Center (213,000 SF) | Rapidly Growing Cannabis Market
- S Ridgewood Ave (30,500 VPD) | Highway Commercial (B-3) | Brand-New Construction | Excellent Visibility & Access
- Strong Demographics in 5-mile Trade Area
Executive Summary
• The Property totals 4,887 SF and is divided into two suites with Taco Bell occupying 1,887 SF and Planet 13 Holdings utilizing the remaining 3,000 SF
• The brand new Taco Bell lease features 2% annual rental increases and the Planet 13 lease features a 10% rental increase at the beginning of year 6
• Both tenants will see these increases throughout the initial term and option periods, steadily growing NOI and hedging agaisnt inflation
• The offering consists of a 100% occupied diverse ecommerce resistant tenant lineup comprised of service tenants, creating a stabilized income stream for a new investor
• Both tenants recently signed brand-new long-term leases which are NNN in nature, limiting expense leakage for a future investor
• The brand new Taco Bell lease features 2% annual rental increases and the Planet 13 lease features a 10% rental increase at the beginning of year 6
• Both tenants will see these increases throughout the initial term and option periods, steadily growing NOI and hedging agaisnt inflation
• The offering consists of a 100% occupied diverse ecommerce resistant tenant lineup comprised of service tenants, creating a stabilized income stream for a new investor
• Both tenants recently signed brand-new long-term leases which are NNN in nature, limiting expense leakage for a future investor
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
4,887 SF
Building Class
B
LoopNet Rating
4 Star
Year Built
2024
Price
$3,524,000
Price Per SF
$721.10
Cap Rate
6.75%
NOI
$237,880
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.09
Lot Size
1.20 AC
Opportunity Zone
Yes
Zoning
B-3 - Highway Commercial
Parking
43 Spaces (8.8 Spaces per 1,000 SF Leased)
Frontage
181’ on South Ridgewood Avenue
Amenities
- Freeway Visibility
- Restaurant
- Signage
- Drive Thru
- Monument Signage
Nearby Major Retailers
Property Taxes
| Parcel Number | 7433-01-00-0250 | Improvements Assessment | $701,054 |
| Land Assessment | $339,183 | Total Assessment | $1,040,237 |
Property Taxes
Parcel Number
7433-01-00-0250
Land Assessment
$339,183
Improvements Assessment
$701,054
Total Assessment
$1,040,237
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Taco Bell & Planet 13 - Edgewater FL | 1308 S Ridgewood Ave
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