4863 Gate Pky
Jacksonville, FL 32246
Retail Property For Sale

The subject Pollo Tropical is located at 4863 Gate Parkway in Jacksonville, Florida. The property consists of a 3,438 square foot building and sits on 0.23 acres of land.The property is subject to a 20-year Triple-Net (NNN) lease. The current rent is $181,350 with 1% increases every year beginning in the 11th year. The next increase comes in 2022 The increases will continue during each of the first three years of the four, five-year tenant renewal options and remain flat for the final two years of those option periods. The tenant is Pollo Operations, Inc. and the guarantor is Fiesta Restaurant Group, Inc. The subject Pollo Tropical property is located at 4863 Gate Parkway in Jacksonville, Florida. The site is located only ten miles from the heart of downtown Jacksonville. Jacksonville is the largest city by population in the state of Florida and the 12th largest city in the United States.The subject property is positioned strategically in a high retail corridor. The Pollo Tropical benefits from its proximity to major national and local retailers. Major national retailers in the area include: Target, Dillard' s, Costco, Brooks Brothers, CVS, Pottery Barn, Coach, Staples, Nordstrom, Best Buy, Publix, Dicks Sporting Goods, Lululemon, and Ashley Furniture Home Store among many others. The University of North Florida, which has enrollment of more than 16,187 students is also located within 3 miles of the Pollo Tropical. The property is located next to the St. John Town Center, which is 1,000,000+ square foot upscale super-regional open-air mall run by Simon Property Group.