Miami, FL - Krispy Kreme

Description:

• The tenant currently has 15 years remaining on their initial lease with 4 (5-year) options to extend, demonstrating their commitment to the site
• This is the only Krispy Kreme in Miami; the tenant has been located in this area for over 30 years and recently signed a 20-year lease in 2019
• The location functions as a production center that distributes fresh doughnuts daily to surrounding locations like grocery stores, gas stations, and other retailers alike
• The lease features 10% rental increases every 5 years, then 8% increases at beginning of each option, growing NOI and hedging against inflation
• Rent to Sales Under 5% (Contact Agents)

• The site is ideally situated in a dense retail corridor, with numerous nearby national/credit tenants including Lowe’s, Walmart Supercenter, Publix, Aldi, Five Below, Starbucks, Marshall’s, and many more
• Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site
• The asset is in close proximity to Gertrude K Edelman Elementary School
(506 students), Oak Grove Elementary School (508 students) and Jackson North Medical Center (382 beds), further increasing traffic to the site
• Krispy Kreme ranks in the 80th percentile nationally and 90th percentile in Florida and is the most visited location within 30 mile radius according to placer.ai

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Listing ID: a28TP000002CaPxYAK