Perkins | 5170 W Irlo Bronson Memorial Hwy
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Perkins 5170 W Irlo Bronson Memorial Hwy
5,833 SF Retail Building Kissimmee, FL 34746 £4,096,796 (£702/SF) 6.50% Net Initial Yield
Executive Summary
CBRE is pleased to present an exclusive listing for the Perkins Restaurant located at 5170 W. Irlo Bronson Memorial Hwy (US 192) in Kissimmee, Florida. The site consists of 5,833 total square feet of building space and sits on 2.13± acres of land. The current base
rent stands at $298,551.74, with an average percentage rent of $32,597, resulting in a total net operating income (NOI) of 331,148.74. The lease calls for 8% rental escalations each five-year period throughout the lease and has exercised their five-year renewal option period extending the total lease term to 25 years. The subject property is situated along a thriving retail corridor on the intersection between W. Irlo Bronson Hwy and N. Poinciana Blvd, surrounded by both national and local tenants, as well as a host of hospitality accommodations. Located near a Walgreens, IHOP, Dollar Tree, Aldi, 7/11, Camping World and multiple major hotel chain locations.
rent stands at $298,551.74, with an average percentage rent of $32,597, resulting in a total net operating income (NOI) of 331,148.74. The lease calls for 8% rental escalations each five-year period throughout the lease and has exercised their five-year renewal option period extending the total lease term to 25 years. The subject property is situated along a thriving retail corridor on the intersection between W. Irlo Bronson Hwy and N. Poinciana Blvd, surrounded by both national and local tenants, as well as a host of hospitality accommodations. Located near a Walgreens, IHOP, Dollar Tree, Aldi, 7/11, Camping World and multiple major hotel chain locations.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
5,833 SF
Building Class
B
Year Built/Renovated
1977/2005
Price
£4,096,796
Price Per SF
£702
Net Initial Yield
6.50%
NOI
£266,292
Tenancy
Single
Number of Floors
1
Building FAR
0.06
Lot Size
2.13 AC
Zoning
OCT, County
Parking
89 Spaces (10 Spaces per 1,000 SF Leased)
Frontage
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 11-25-28-3217-0001-0020 | Improvements Assessment | £0 |
| Land Assessment | £0 | Total Assessment | £1,237,854 |
PROPERTY TAXES
Parcel Number
11-25-28-3217-0001-0020
Land Assessment
£0
Improvements Assessment
£0
Total Assessment
£1,237,854
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Perkins | 5170 W Irlo Bronson Memorial Hwy
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