Checkers – NNN – Lakeland, FL

 

  • Price: US $921,000
  • Property Type: Free Standing (1 Tenant)
  • Occupancy: 100%
  • CAP: 40%
  • Building Area: 942 SF = 87 m2
  • Lot: 55 AC = 2,225 m2
  • NOI: US $49,747 / year
  • Annual Expenses: 0 (Zero) NNN – Tenant responsible for all expenses including insurance and property tax
  • Contract Terms: 12  years remaining on contract (Lease end 2030)
  • Increases: 10% every 5 years.
  • Extensions: 2 – 5  years options.
  • Guarantor: Corporate Guaranteed – Checkers Drive-In Restaurants, Inc. (Founded in 1986 and is headquartered in Tampa, Florida. Owns and operate more than 870 locations www.checkers.com)
  • Extra: 5 miles away is Lakeside Village, a 558,000 square foot retail shopping center with anchor tenants Belk, Bed Bath & Beyond, and Kohls, providing a direct consumer base from which to draw from. Nearby national/credit tenants include a 24-hour Walmart Supercenter, Target, Hobby Lobby, Publix Supermarket, and more.
  • Location: Located near the signalized, hard corner intersection of E. Edgewood Drive and Florida Ave with combined VPD of 61,000.