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PDQ 4601 Park Blvd 3,309 SF Retail Building Pinellas Park, FL 33781 $2,677,000 ($809.01/SF) 6.50% Cap Rate
Investment Highlights
- Nearly 10 Years Remaining on Initial 20-year absolute NNN Lease Term
- Shadowed by Publix
- Corporate Guaranty from PDQ
- High Density Location Surrounded by National Retail Brands
- Strong Traffic Count on Park Blvd N (59,500 vehicles/day)
- Florida Has No state Income Tax
Executive Summary
This exceptional investment opportunity features a 3,309-square-foot free-standing building operating as a quick-service restaurant under the PDQ tradename. The property is subject to a 20-year, absolute net lease with just under 10 years remaining on the initial term and five, five-year renewal options. Under this absolute net structure, the tenant is responsible for all costs and expenses including property taxes, insurance, and maintenance of the roof and structure. Investors will benefit from fixed rental increases every five years throughout the initial term and within each option period, providing a hedge against inflation. The lease is further strengthened by a corporate guaranty from PDQ. Ideally located on 1.34 acres along Park Boulevard, this passive investment offers long-term stability with zero landlord responsibilities.
Property Facts
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Restaurant
Building Size
3,309 SF
Building Class
B
Year Built/Renovated
1998/2016
Price
$2,677,000
Price Per SF
$809.01
Cap Rate
6.50%
NOI
$174,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.06
Lot Size
1.35 AC
Zoning
B-1 - Commercial General - "B-1" General Commercial District
Parking
56 Spaces (18.89 Spaces per 1,000 SF Leased)
Frontage
233’ on Park Blvd N
Amenities
- Corner Lot
- Pylon Sign
- Restaurant
- Signage
- Drive Thru
- Air Conditioning
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Accommodation and Food Services
- 3,309 SF
- $52.58
- Triple Net
- May 2036
PDQ Restaurants is a fast-casual restaurant chain Headquartered in Tampa, FL. The company offers hand-battered chicken tenders, made-to-order chicken and turkey sandwiches, fresh-cut fries, hand-spun milkshakes, salads and other food items, made using homemade sauces and dressings with all-natural ingredients.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Accommodation and Food Services | 3,309 SF | $52.58 | Triple Net | May 2036 |
Moderately walkable
70/100
Moderately drivable
70/100
Some public transit
40/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 27-30-16-10494-002-0010 | Improvements Assessment | $840,739 |
| Land Assessment | $784,261 | Total Assessment | $1,625,000 |
Property Taxes
Parcel Number
27-30-16-10494-002-0010
Land Assessment
$784,261
Improvements Assessment
$840,739
Total Assessment
$1,625,000
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