4297 Cattlemen Rd
Sarasota, FL 34233
Steak ‘n Shake · Retail Property For Sale

TD Commercial Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an Absolute NNN leased drive-thru equipped, Steak 'n Shake investment property located in Sarasota, Florida. The property is in a major retail corridor (outparcel to Wal-Mart and Home Depot), in a fast-growing market, with very strong demographics. The property has excellent access to Interstate 75, and is in close proximity too numerous medical facilities. Steak 'n Shake is paying below market rents for the trade area which bodes well for long term. Due to Strong Store Performance, Steak 'n Shake recently extended early Two 5-Year Option Periods showing there strong commitment to this site. Steak 'n Shake has approximately 7 years remaining on the firm term with 2x5 year option periods remaining. The corporately guaranteed lease is an Absolute NNN Lease with ZERO Landlord Responsibilities. The offering price of $2,000,000 is representative of a 5.65% CAP Rate. The price is firm and this is a great investment opportunity in a tax-free state. Currently, there is a very strong rent-to-sales ratio of around 6.5%. This property has value-add potential, due to the below market rents the tenant is currently paying. If they were to vacate at the end of their lease, then there would be significant upside to re-tenanting the property at market rents. Excellent underlying real estate fundamentals in a major retail corridor and very strong/explosive market.