Taco Bell - Delray Beach, FL_Property for Sale
Taco Bell - Delray Beach, FL_Property for Sale
5070 W atlantic Ave, Delray Beach, FL, 33484, US

Taco Bell - Delray Beach, FL

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”), is pleased to exclusively offer for sale the fee-simple interest in the Taco Bell located at 5070 West Atlantic Avenue in Delray Beach, FL (the “Property” or “Asset”). Taco Bell of America LLC is a subsidiary of the world’s largest restaurant company, Yum! Brands, Inc. (NYSE: YUM) that has over 50,000 restaurants in over 150 countries. The lease currently has 16-years of term remaining with 9.7% rental increases every 5-years and, is subject to 15.0% rent increases across the four 5-year renewal options.


Located on a major retail corridor in Delray Beach,  the Property benefits from the ease of access to both Interstate-95 and Florida’s Turnpike. The Property is an outlot to the recently redeveloped and rebranded Delray Landing shopping center, which features a brand-new Sprouts Farmers Market. The Property is also adjacent to the Delray Square Shopping Center, a highly trafficked shopping center in the region with over 1.5 million visitors annually and  9+ retailers, including a Publix Supermarket that is ranked in the 84th Percentile of all Publix stores in the nation (per Placer.ai).


The Property benefits from the 18% population growth that has occurred in the past decade within a five-mile radius. The Asset is located in west side of Delray near legacy at Sherwood Park Golf Course. The Property is within a residential and retail trade area along Atlantic Avenue and South Military Trail with direct exposure to over 90,000 vehicles per day. It is less than twenty-miles from the Palm Beach International Airport; Florida Atlantic University, an 850-acre academic campus with over 30,000 students enrolled annually.

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Attributes

Asking price
SGD 2,739,000
Building area gross
223 m²
Occupancy
100%
Year built
2019
Cap rate
4.5%
NOI
SGD 124,000

Media

Investment Highlights

Experienced operator and parent company (S&P: Yum)

16 Years of lease remaining

Ground lease - no landlord responsibilities

9.7% rent bumps every 5 years of base term

Over 226,000 residents within a 5-mile radius

Strong population growth of 18.4% within a 5-mile radius

Situated along Atlantic Ave & S Military Trail which is exposed to over 90,000 VPD

Less than 20-miles from Palm Beach International Airport & Florida Atlantic University

Taco Bell - Delray Beach, FL 4_Property for Sale

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Taco Bell - Delray Beach, FL (0 Properties)

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Last updated
4 Apr 2024