Fort Myers, FL Krispy Kreme 4904 S. Cleveland Blvd., Fort Myers, FL Cap Rate 4.65% Fort Myers ( Florida, US ) Built

$4,650,000 USD
Dollars

BAI-MEX Bienes Raíces y Negocios

  • Type: Commercial
  • Style: Commercial
  • Size: 3,227 sq. ft.
  • Development Level: Built
  • Lot Size: 1.1 acres
  • Year Built: 2018

Description

Fort Myers, FL Krispy Kreme 4904 S. Cleveland Blvd., Fort Myers, FL Cap Rate 4.65%

Cap Rate: 4.65%
NOI: $216,300
Building Size: 3,227 sqft
Lot Area: 1.1 acres
Occupancy: 100%
Year Built: 2018

Price: $4,650,000 USD

DESCRIPTION
Brand New 20-Year Lease | Corporate Guaranteed | Scheduled Rental Increases | Options to Extend
• The lease is corporate guaranteed by Krispy Kreme Doughnut Corporation, nationally recognized, and an established doughnut company and coffeehouse chain with over 1,400
locations
• Brand new 20-year lease with 4 (5-year) options to extend, demonstrating their long-term commitment to the site
• The lease features 10% rental increases in lease year 11 and 16, then 8%increases at the beginning of each option period, generating NOI and hedging against inflation
Absolute NNN Lease | Fee Simple Ownership | Zero Landlord Responsibilities
• Tenant pays for CAM, taxes, insurance and maintains all aspects of the premises
• No landlord responsibilities
• Investor benefits from fee-simple ownership of the land
• Ideal management-free investment for a passive investor in a state with no state income tax
Primary Retail Corridor | Grand Central Apartment Complex | Drive-Thru Equipped | Excellent Visibility & Access
• Krispy Kreme is located along S. Cleveland Avenue, a major retail and commuter thoroughfare averaging 53,000 vehicles passing per day
• The subject property is located directly across Page Field Commons, a 90,000 SF shopping center with national/credit tenants such as Best Buy, Trader Joe’s, Dick’s Sporting Goods,
Marshalls, PetSmart, Old Navy and more
• Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure for this site
• Krispy Kreme is directly in front of Grand Central, an apartment complex built in 2019 featuring 4 stories with 280 units
• This site was constructed in 2018 and includes state-of-art store features and a drive-thru lane, providing ease and convenience for customers
• Stores with drive-thrus typically generate 60-70% of store sales, mitigating against the impact of COVID-19
Strong Demographics in 5-mile trade area
• More than 152,000 residents and 111,000 employees support the trade area
• Features an average household income of $73,707

For more information:
Javier Tamez Martínez.
jtamez@bai-mex.com
Celular: +52 (81) 1599 75 36
Podemos encontrar propiedades comerciales e industriales para invertir en cualquier ciudad y estado de estados unidos.

Attachments

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Information is deemed to be correct but not guaranteed.