Miami, FL - Krispy Kreme

Description:

Brand New 20-Year Lease | Corporate Guaranteed | Scheduled Rental Increases | Options to Extend
• The lease is corporate guaranteed by Krispy Kreme Doughnut Corporation, nationally recognized, and an established doughnut company and coffeehouse chain with over 1,400 locations
• Brand new 20-year lease with 4 (5-year) options to extend, demonstrating their long-term commitment to the site
• The lease features 10% rental increases in lease year 11 and 16, then 8%increases at the beginning of each option period, generating NOI and hedging against inflation
Absolute NNN Lease | Fee Simple Ownership | Zero Landlord Responsibilities
Tenant pays for CAM, taxes, insurance and maintains all aspects of the premises
• No landlord responsibilities
• Investor benefits from fee-simple ownership of the land
• Ideal management-free investment for a passive investor in a state with no state income tax

Near Signalized, Hard Corner Intersection | Former Location - Next Door | Drive-Thru Equipped | Excellent Visibility & Access
• Krispy Kreme is located near the signalized, hard corner intersection of NE 167th Street and NE 6th Avenue, averaging a combined 91,000 vehicles passing by daily
• The subject property was formerly located next door (Wawa location), allowing them to maintain their market presence
• Just off Interstate 95 (178,500 VPD) and the Florida Turnpike (101,200 VPD)
• This site was constructed in 2019 and includes state-of-art store features and a drive-thru lane, providing ease and convenience for customers
• Stores with drive-thrus typically generate 60-70% of store sales, mitigating against the impact of COVID-19
Strong Demographics in 5-mile trade area | High Density
• More than 512,000 residents and 172,000 employees support the trade area
• Features an average household income of $72,748
• This trade area reflects high density with more than 179,000 households

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Listing ID: a284o000000iBcDAAU