Single Tenant Restaurant: 7.5% Cap Rate Investment

Retail-Commercial for Sale
Catylist Listing ID: 30279814
Property Subtypes: Restaurant
Building Size (RSF): 3,300 SF
Gross Building Area: See Agent
Gross Land Area: 1.71 Acres
Sale Price: $920,920
Unit Price: $279.07 PSF
In Opportunity Zone? Yes
Property Use Type: Investment
Sale Terms: Other
Cap Rate: 7.5%
Average Occupancy Rate: 100
Last Updated: 7/2/2019

Overview / Comments

Shrimp Basket is a 28 Unit Seafood Chain that is 100% Corporately owned group of restaurants located in 5 Southeastern States. This location is 19 months into a 10-year lease. Lease has 3% increases per year throughout the initial lease term. The site is located in Northwest Florida in Milton along the main road.

- Single Tenant Restaurant
- Corporate Guaranty
- NN Lease with 3% Annual Increases
- 28 Unit Seafood Chain, all corporate units

Attachments & Media

Additional Details

Nearest MSA: Pensacola-Ferry Pass-Brent
County: Okaloosa
Tax ID/APN: 091N280000053000000
Retail Clientele: General, Business, Traveler, Tourist
Property Visibility: Excellent
Traffic/Vehicle Count: 24,500
Tenancy: Single Tenant
Total Number of Buildings: 1
Year Built: 1991
Year Renovated: 2007

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,141 28,030 47,860
Median Age: 35.91 38.11 38.09
Households: 1,301 10,830 18,559


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