PROPERTY SUMMARY
Sale Price: $995,000
Cap Rate: 10.02%
NOI: $96,786
Lot Size: .96 Acres
Building Size: 10,899
Grade Level Doors: 3
Dock High Doors: 2
Year Built: 1981
Renovated: 2005
Zoning: CG
PROPERTY HIGHLIGHTS
- Distributes to 47+ Stores in SW Florida.
- Absolute NNN Property.
- Land Value Supports Sale Price
- 3% Annual Escalators.
- Offered at 10.02 CAP
The property sits on just about one acre and has ample parking in the front as well as parking for delivery trucks in the back. There area two overhead doors with two overhead doors with two docks for one door, and one dock for the other door. There is a stable franchisee tenant in place with a an excellent NNN lease with zero owner responsibilities and 3% annual escalators. Dunkin’ Donuts executed their renewal option for an additional five years starting July 2015.The structure is concrete block and has had multiple improvements since the tenants have taken possession. The improvements include fences, building expansion, roof replacement, and the addition of a $250K HVAC system. The tenants also recently expanded their distribution from 35 to 45 stores. As a result, operations were increased and expanded within the building. This is a mission critical facility with two runs per day, 7 days a week. This is a perfect income producing property priced very well!
