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Denny's | New 15yr Abs NNN | Sam's Club Outpa 4442 US Highway 19 3,869 sq ft Retail Property New Port Richey, FL 34652 £1,850,875 (£478.39/sq ft) 6% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Brand New 10-Year Lease | Scheduled Rental Increases | Franchisee Guaranteed | Well-Known & Established Brand
- Direct Residential Consumer Base | Strong Demographics in 5-Mile Trade Area
- Signalized, Hard Corner Intersection | Dense Retail Corridor | Outparcel to Sam’s Club Anchored Shopping Center
EXECUTIVE SUMMARY
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, freestanding, franchisee guaranteed, Denny’s investment property located in New Port Richey, Floria (Tampa MSA). The tenant recently extended their lease an additional 15 years with 4 (5-year) option periods, demonstrating their long-term commitment to the site. The lease features 8% rental increases every 5 years throughout the initial term and option periods, growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities, making this an ideal, management-free investment opportunity for a passive investor. Founded in 1953, Denny’s is among the largest diner-style restaurant chains with over 1,700 locations around the world.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Property Size
3,869 sq ft
Costar Property Class
B
Year Built
1976
Price
£1,850,875
Price per sq ft
£478.39
Yield
6%
NOI
£111,053
Tenancy
Single
Number of Floors
1
Plot ratio
0.34
Total Plot Size
0.26 ac
Use Class
C2 - General Commercial
Parking
2 Spaces (0.52 Spaces per 1,000 sq ft Leased)
Frontage
167 ft on US Highway 19
AMENITIES
- Corner Lot
- Freeway Visibility
- Restaurant
- Signage
- Signalised Intersection
NEARBY MAJOR RETAILERS
Fifth Third Bank
PROPERTY TAXES
| Parcel Number | 18-26-16-0000-01500-0030 | Improvements Assessment | £196,423 |
| Land Assessment | £92,065 | Total Assessment | £288,488 |
PROPERTY TAXES
Parcel Number
18-26-16-0000-01500-0030
Land Assessment
£92,065
Improvements Assessment
£196,423
Total Assessment
£288,488
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Denny's | New 15yr Abs NNN | Sam's Club Outpa | 4442 US Highway 19
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