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NNN Corporate Taco Bell/Pizza Hut
Pembroke Pines (Ft. Lauderdale), FL
Steven Schroeder 954-593-6466
Stevenschroe@gmail.com


 
Status: SOLD
Price:
$941,785
NOI:
$61,216
CAP Rate: 6.5%
Rent to Sales Ratio: 3.7%
Rent PSF: $21.86
Building Size: 2,800± SF
Lot Size: .54± Acres
Years Remaining on Lease: 3.7± Years
Options: 1 x 5 Year
Year Built:
2004
Lease Commencement:
February 15, 1989
Lease Expiration:
May 8, 2014
Net Lease Investment:
Absolute NNN Ground Lease

Property Description:
Solid Investments is pleased to present a corporate absolute NNN Taco Bell/Pizza Hut Ground Lease located in Pembroke Pines (Ft. Lauderdale), FL. Taco Bell has been at this location for over 21 years and there are 3.7± yrs remaining on the Lease. Taco Bell recently exercised their first 5-year option in May 2009 and there is 1 x 5 year option remaining. Very strong store sales, well above the national average - 3.7% Rent to Sales ratio.

The center is anchored by Lowe’s with additional tenants CVS, TGI Friday’sl, Pollo Tropical, Red Lobster, Goodyear Tires, and Quizno’s. Immediately behind the subject property is a Publix, Marshalls, LA Fitness shopping center.
Within a 1-mile radius the 2010 population is 20,772 and 429,828 within 5-miles with an average household income over $65,000. Broward College (15,000+ students) is located 1-mile from the site.

Location:
The intersection of University Drive and Pines Blvd averages over 100,000 cars per day with 54,000 cars traveling east/west along Pines Blvd (Hollywood) and 51,000 cars traveling north/south along University Drive.

Pembroke Pines is a rapidly expanding city in Broward County just north of the city of Miami. According to 2006 U.S. Census Bureau estimates, the city has a population of 150,064, making it the second most populous city in Broward County, the eleventh most populous in Florida, and the 157th most populous in the United States. Its official motto is "Join Us and Progress with Us". Pembroke Pines has been named one of the best cities to live in America.

Pembroke Pines won the National Civic League's coveted "All-America City Award" in 2004 and was a finalist community in 2003. Pembroke Pines also received an "outstanding achievement award" in the "2005 City Livability Awards" Program, sponsored by the U.S. Conference of Mayors. Many of Pembroke Pines schools have received the "Five Star School Award" from the Florida Department of Education as schools that have shown evidence of exemplary community involvement.

About the Tenant:
Yum! Brands, Inc (NYSE: YUM) (Investment Grade S&P Rated: BBB- & Moody's Rated: Baa3)
Taco Bell corp., (“TBC”), based in Irvine, CA, is a subsidiary of YUM! Brands, Inc., (YUM!) and is the nation’s leading Mexican-style quick service restaurant chain. Taco Bell has over 5,800 restaurants, including about 240 locations outside the UA. More than 20% of the restaurants are company-operated, while the rest are franchised or licensed. With over 175,000 employees, Taco Bell serves more than 36.8 million consumers each week and sells over 4.5 million tacos each day. additionally, half of the u.s. population sees a Taco Bell commercial at least once a week, generating significant brand recognition.

Yum! Brands, Inc. or Yum! is a Fortune 500 corporation. Yum! operates or licenses Taco Bell, KFC, Pizza Hut, Wingstreet, and Long John Silver's restaurants worldwide, and A&W Restaurants (excluding A&W in Canada). Based in Louisville, Kentucky, it is the world's largest fast food restaurant company in terms of system units—over 36,000 restaurants around the world in more than 110 countries and territories. In 2008, Yum!'s global sales totaled more than US $11 billion.

Taco Bell remains to be a key component of YUM!’s U.S. performance, contributing about 55% of operating profits domestically. According to YUM!, Taco Bell is the second most profitable fast food concept in the U.S. behind McDonald’s. YUM! management strongly believes that Taco Bell has the systems in place to continue on its growth path in the future.

        • Corporate Taco Bell/Pizza Hut -YUM! Brands- ±3.7 years remaining on Lease
        • Phenomenal Store Sales - 3.7% Rent to Sales
        • Yum! Brands is world's largest restaurant company w/over 33,000 restaurants
        • Investment Grade Tenant - S&P Rated BBB-
        • Zero Landlord Obligations
        • Florida - No State Income Tax
        • Outparcel to Lowe's Shopping Center & Next to Publix
2010 Demographics
1 Mile
3 Mile
5 Mile
Population
20,772
181,073
429,828
Avg Household Income
$62,330
$64,081
$65,938
 
Additional Photos
 
 

 
 

The information above has been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial, and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

The properties shown on this website may or may not be exclusively listed by the Solid Investments team at Berger Reatly Group. All information shown on www.solidinvestmentsfl.com is believed to be accurate, but is not warranted.

Solid Investments
of Berger Realty Group