7501 Biscayne Blvd
Miami, FL 33138
Retail Property For Sale
Investment Highlights
- Absolute NNN Lease with Corporate Guarantee
- 10% Increases Every Five Years
- Mimo District Surrounded by Local Eateries and Hotels
- Seven + Years Remaining on Original Lease Term
- No Landlord Responsibility
Property Facts
Amenities
- Bus Line
- Pylon Sign
- Drive Thru
About 7501 BISCAYNE BLVD , MIAMI, FL 33138
Marcus & Millichap is pleased to exclusively offer for sale a Pollo Tropical located within Miami’s Mimo District at 7501 Biscayne Boulevard. It is situated on a hard corner lot with over 100 feet of direct frontage on one of eastern Dade County’s most heavily trafficked north-south arteries. Pollo Tropical has approximately seven years remaining on their absolute triple-net lease, which commenced in September of 2017. This asset offers a landlord virtually no hands-on responsibility with a strong credit tenant in place. The lease is structured with 10.0 percent increases every five years throughout the primary term as well as the four, five-year option terms. Pollo Tropical is a quick service restaurant concept by Fiesta Restaurant Group, Inc. which offers Caribbean-inspired fare. It was founded in 1988 by two Miami brothers. Today Pollo Tropical is part of Fiesta Restaurant Group which also operates Taco Cabana Restaurants. They employ more than 2,200 people throughout the US, Latin America and the Caribbean. Fiesta Restaurant Group is traded on the NASDAQ (FRGI). It owns and operates more than 300 restaurants in the southern United States, roughly three quarters of which are in Florida.
Property Taxes
| Parcel Number | 01-3207-018-0600 | Improvements Assessment | $188,903 |
| Land Assessment | $1,920,000 | Total Assessment | $2,108,903 |
Property Taxes
