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Restaurant

Habit Burger New Construction 15 Year Lease

4855 E Bay Dr, Clearwater, FL 33764

Listing Price: $3,763,440

Cap Rate
4.65%
Tenant Name
Habit Burger
Years Remaining On Lease
14.3
Gross SF
3,300
Guarantor
Corporate Guarantee
Rentable SF
3,300
Price/Gross SF
$1,140.44
Lease Type
Absolute Net
Rent Per Square Feet
$53.03

Investment Overview

Marcus & Millichap is pleased to present for sale The Habit Burger Grill
located at 4855 East Bay Drive in Clearwater, Florida. Largo is the third
largest city in Pinellas County as well as the fourth largest city in the Tampa
Bay area with a population over 82,500. The healthcare industry continues to
grow in Largo, Florida with hospitals among the area’s strongest employers,
including Largo Medical Center owned by Hospital Corporation of America.
Many colleges and universities surround this Habit Burger Grill property
including Pinellas Technical College with 5,000 students, St. Petersburg
College with 7,226 students and Nova Southeastern University with 20, 888
students. Nearby the property is HCA Florida Largo Hospital.
Numerous apartment complexes surround this property including Sandy
Lane Apartments with 235 rented units, Gateway North with 342 rented
units, Floral Gardens with 56 rented units, Winding Lane Apartments, Oasis
at Bayside East Apartments, Central Park at East Bay and many, many more.
Habit Burger Corporation was founded in 1969 in Santa Barbara, California
and today there are more than 350 Habit Burger Grill restaurants in
communities across the country. Habit Burger is a fast-casual restaurant
that offers the unique flavors of chargrilling over an open flame in a variety of
freshly made burgers, sandwiches, salads and more. In 2022, Habit Burger
generated $661 Million in systemwide sales and added 31 new restaurant
units to the brand’s footprint. In 2020 Yum! Brands acquired the Habit and
is making strides in capitalizing on shared services.

Investment Highlights

  • The Habit Burger Grill Located at 4855 East Bay Drive in Clearwater, Florida (Population of Largo Over 82,500 Residents)
  • Corporate Guaranteed Habit Burger Grill | 14+ Years Remaining on Absolute NNN Lease
  • 2023 Construction
  • 10% Increases Every 5 Years
  • Habit Burger is a Subsidiary of Yum! Brands
  • Florida is a No Income Tax State

Exclusively Listed By

Financing By

Restaurant

Habit Burger New Construction 15 Year Lease

Listing Price: $3,763,440

Cap Rate
4.65%
Tenant Name
Habit Burger
Years Remaining On Lease
14.3
Gross SF
3,300
Guarantor
Corporate Guarantee
Rentable SF
3,300
Price/Gross SF
$1,140.44
Lease Type
Absolute Net
Rent Per Square Feet
$53.03

Investment Highlights

  • The Habit Burger Grill Located at 4855 East Bay Drive in Clearwater, Florida (Population of Largo Over 82,500 Residents)
  • Corporate Guaranteed Habit Burger Grill | 14+ Years Remaining on Absolute NNN Lease
  • 2023 Construction
  • 10% Increases Every 5 Years
  • Habit Burger is a Subsidiary of Yum! Brands
  • Florida is a No Income Tax State

Investment Overview

Marcus & Millichap is pleased to present for sale The Habit Burger Grill located at 4855 East Bay Drive in Clearwater, Florida. Largo is the third largest city in Pinellas County as well as the fourth largest city in the Tampa Bay area with a population over 82,500. The healthcare industry continues to grow in Largo, Florida with hospitals among the area’s strongest employers, including Largo Medical Center owned by Hospital Corporation of America. Many colleges and universities surround this Habit Burger Grill property including Pinellas Technical College with 5,000 students, St. Petersburg College with 7,226 students and Nova Southeastern University with 20, 888 students. Nearby the property is HCA Florida Largo Hospital. Numerous apartment complexes surround this property including Sandy Lane Apartments with 235 rented units, Gateway North with 342 rented units, Floral Gardens with 56 rented units, Winding Lane Apartments, Oasis at Bayside East Apartments, Central Park at East Bay and many, many more. Habit Burger Corporation was founded in 1969 in Santa Barbara, California and today there are more than 350 Habit Burger Grill restaurants in communities across the country. Habit Burger is a fast-casual restaurant that offers the unique flavors of chargrilling over an open flame in a variety of freshly made burgers, sandwiches, salads and more. In 2022, Habit Burger generated $661 Million in systemwide sales and added 31 new restaurant units to the brand’s footprint. In 2020 Yum! Brands acquired the Habit and is making strides in capitalizing on shared services.

Exclusively Listed By

Financing By

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