Address: 13555 US Highway 1 , Sebastian, Florida, United States 32958
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 Sebastian, 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 Roseland Road, which boasts average daily traffic counts exceeding 9,300 vehicles, respectively. Intersecting with Roseland Road is U.S. Highway 1, which brings an additional 23,300 vehicles to the immediate area daily. There are more than 28,850 individuals residing within a three-mile radius of the property and more than 66,600 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: Walmart, Ruby Tuesday, The Home Depot, McDonald’s, USPS, Good Will, Walgreens, Publix, as well as many others. Accommodations in the immediate area include Best Western Plus Sebastian Hotel & Suites. This Burger King property also benefits from less than a mile from The Sebastian River Medical Center, which has a bed count exceeding 150, offers surgical services including orthopedic, sports medicine, thoracic oncology and endovascular procedures to patients on the Treasure Coast. Sebastian River Medical serves as the top resource in the surrounding area for cancer treatment, diagnostic imaging, and orthopedic treatment.
Sebastian is a city in Indian River County, Florida, United States. In 2010, the population recorded by the U.S. Census Bureau was 21,929. Sebastian is a principal city of the Sebastian−Vero Beach Metropolitan Statistical Area, which includes all of Indian River County. Sebastian’s mission is to create good paying jobs by recruiting new businesses to the area and by supporting their local existing businesses in their efforts to grow and expand their markets. The goal is to work towards a health economy with shared prosperity for the entire community. The Sebastian River Area offers opportunities for businesses to succeed, with business resources, incentives for job creation, convenient location, a diverse workforce and a very desirable lifestyle. Sebastian has seen the job market increase by 0.3% over the last year. Future job growth over the next ten years is predicted to be 34.2%, which is lower than the US average of 38.0%.
Broker of Record: Ryan Nee – License # BK3154667