Free-Standing former restaurant building with drive-thru lane. Located just south of the SR-434 and US Hwy 17-92 intersection, the existing structure sits on just over 2 Acres (1 Acre usable). A complete redevelopment of the structure is expected to be completed by Mid 2023. Landlord is currently negotiating with several regional and national tenants to sign a triple net lease with an Ulevered Yield On Costs (UYOC) of approximately 13% year 1. Given the debt markets at or near completion of the project, would provide a return of equity as well as on-going cash flows from operations.
This transaction was internally syndicated and concluded within a short time frame.
actively looking to acquire a mix of distressed, mismanaged and undervalued commercial properties in florida's major markets and select cities inthe south eastern united states.
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