40545 US Highway 19 N
Tarpon Springs, FL 34689
Absolute NNN Burger King Ground Lease · Retail Property For Sale

Cushman & Wakefield is pleased to present the listing for a Burger King Ground Lease located at 40545 US Hwy 19 in Tarpon Springs, Florida. The property is subject to an absolute NNN Ground Lease with BRAVOTAMPA, LLC, a subsidiary of Quality Dining Inc. (QDI). BRAVOTAMPA, LLC operates the majority of the Burger Kings within the Tampa MSA. QDI is recognized as one of the nations largest franchisee restaurant companies. QDI operates 161 Burger King Restaurants and 45 Chili’s restaurants as franchisees. QDI has been in business since 1967. The Burger King Tarpon Springs was recently constructed in 2017. It consists of 3,140 SF and operates under a new 15-year Absolute NNN Ground lease with Five, 5-year options. The rent increases 10% every five years in the base term and option periods. The property is located on the signalized hard corner of US Highway 19 (VPD: 76,500) and Lake Street. It is next to a new retail development project which consists of 16,500 SF. In addition to its prime location on US Hwy 19, the restaurant is surrounded by national retailers including McDonalds, Chili’s, Wal-Mart, Starbucks, Publix, Walmart & Lowes. Furthermore, average household income within a 3 and 5-mile radius exceeds $75K and population within a 5-mile radius exceeds 131K residents. The Tampa Bay MSA has a population of 2.98 million residents and it is the 2nd largest MSA in Florida.