Address: 9420 W Commercial Blvd, Tamarac, Florida, United States 33321
Cap Rate: 5.00%
Lease Type: Triple Net (NNN)
Annual Rent: $140,000
Net Operating Income: $140,000
Lease Term Remaining: 20 Years
Rental Increases: 1.25% Annual Increases Starting Year 3
Options: Four (4), Five (5) Year Options
Year Built: 2018
Rentable Sq/Ft: 3,000 SF
Rent Sq/Ft: $46.67
Price Sq/Ft: $933
Lot Size: +/-1.00 Acres
Marcus & Millichap is pleased to present the exclusive listing for the Burger King located in Tamarac, FL. The property consists of approximately 3,000 rentable square feet and is situated on approximately 1.00 acres of land. The property is subject to a 20-year triple-net (NNN) sale-leaseback. The lease will commence upon the close of escrow. The base annual rent will be $140,000 and the lease calls for 1.25% rental increases every year starting year 3 through the base term and continuing through the four, five-year tenant renewal options.
The subject investment property is situated on Commercial Bouvard, which boasts average daily traffic counts exceeding 40,500 vehicles, respectively. There are more than 134,256 individuals residing within a three-mile radius of the property and more than 362,343 individuals within a five-mile radius.
The subject property benefits from being well-positioned in a highly dense retail corridor consisting of national and local tenants, shopping centers, and hotels all within close proximity of this property. Major national tenants include: Walgreens, Wendy’s, McDonald’s, CVS, Starbucks, IHOP, Sonic, Chipotle, Staples,
as well as many others. Accommodations in the immediate area include Hampton Inn & Suites Ft. Lauderdale. This Burger King property also benefits from being situated within a three-mile radius of several academic institutions. The most notable are Discovery Elementary School and Westpine Middle School, which have a total enrollment exceeding 1,900 students. The subject property is also less than three miles from the University Hospital and Medical Center, a 317-bed acute care hospital. Since opening in 1974, they have been a leader in bringing breakthroughs in orthopedic care and joint replacement. Their Center for Behavioral Health offers inpatient care for children, adolescents and adults and a one-of-a-kind geriatric program.
Tamarac is a city in Broward County, Florida, United States. As of the 2010 United States Census, the city had a population of 60,427. It is part of the Miami metropolitan area, which was home to an estimated 6,012,331 people in 2015. Tamarac is located 35 miles from Miami, Florida. Miami has always been the commercial and cultural center for Florida and the nearby Caribbean, but in the past 30 years it has emerged as a world-class international hub and a gateway for all of Latin America. In Miami, imports/exports and international financial trade with Latin countries make up a far larger part of the economy. These activities bring a large banking industry as well as cargo transport and warehousing; the manufacturing and corporate headquarters rosters are also growing. In many ways it serves as the central logistical and cultural hub of the entire Western Hemisphere. The inevitable result is a diverse and invigorating Latin culture superimposed upon what was already a major commercial, resort, and retirement area dating back to the 1920’s.
Broker of Record: Ryan Nee – License # BK3154667