Overview

Description

SRS National Net Lease Group is pleased to offer the opportunity to acquire leased fee (land ownership) in an absolute NNN, freestanding, corporate guaranteed by Pollo Campero Holding LLC, investment property located in Kissimmee, Florida (Orlando, MSA). The tenant, Pollo Campero of Florida, LLC recently signed a brand new 15 year lease with 4 (5-year) options to extend. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities, making it an ideal, management free investment opportunity for a passive investor. The site recently commenced construction and features a state-of-the-art design with high-quality materials. The asset opened for business October of 2023. Since its beginnings as a small, family-owned restaurant, Pollo Campero has grown to more than 350 restaurants around the world.

The Pollo Campero is strategically located along State Hwy 192 & 441 which averages over 56,000 vehicles per day. The site benefits from nearby direct on/off ramp access to the Florida Turnpike, a major thoroughfare serving the state of Florida averaging over 43,100 VPD. The subject property is ideally situated as an outparcel to St. Cloud Commons a 190,000 SF center anchored by a Marshalls, Ross Dress for Less, Old Navy, and a Petsmart. Furthermore, the subject property is ideally located in a dense retail corridor, with numerous nearby national/credit tenants including Walmart Supercenter, Publix, Advance Auto Parts, Dollar Tree, Dollar General, Pepboys Auto, Dunkin Donuts, and many more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. The 5-mile trade area is supported by over 106,000 residents and 25,000 employees, providing a direct consumer base from which to draw. Residents with a 5-mile radius of the subject property have an average household income of $76,112. The current metro population of Kissimmee is 568,000, a 3.46% increase from 2021. Kissimmee has been growing relatively quickly at a rate of 61.6% since 2000 with a population density of 2,816 people per square mile.

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