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Restaurant

Checkers 10 Year NNN Lease Trophy Location

450 W Atlantic Ave, Delray Beach, FL 33444

Listing Price: $2,526,315

Cap Rate
4.75%
Tenant Name
Checkers
Years Remaining On Lease
10.1
Gross SF
724
Guarantor
Corporate Guarantee
Rentable SF
724
Price/Gross SF
$3,489.39
Lease Type
Absolute Net
Rent Per Square Feet
$165.75

Investment Overview

Marcus & Millichap is pleased to present for sale this Checkers Restaurant with
Drive Thru located at 450 W. Atlantic Avenue in Delray Beach, Florida. Delray
Beach is a city in Palm Beach County, Florida with a population of 66,846. It
located in South Florida 52 miles north of Miami and is in the Miami Metropolitan
Area. Major employers in the area include Delray Medical Center, Annco Services,
Shullman Technology Group, Schumacher Automotive Group and Ed Morse
Delray Toyota.
Situated on W Atlantic Boulevard, a main thoroughfare in Delray Beach, this
restaurant has exposure to more than 43,000 Vehicles Per Day. Numerous
apartment complexes surround this Checkers Property including South of
Atlantic Luxury Apartments, Caspian Delray Beach Apartments, Village at Delray
Apartments, Cortland Delray Apartments, Village Square Circle, Congress Grove
Apartments and Waters Edge Apartments. Colleges and universities nearby
include Bethesda College of Health Sciences, Cambridge College of Healthcare,
and Everglades University.
Checkers Drive-In Restaurants, Inc. is a chain of double drive-thru restaurants
in the United States. The company operates Checkers and Rally’s restaurants in
28 states and the District of Columbia. They specialize in hamburgers, hot dogs,
French fries and milkshakes. As of the year 2022, there were 569 Checkers
locations and 309 Rally’s locations with annual US revenue of $521 Million.

Investment Highlights

  • 10 Year Absolute NNN Ground Lease | Zero Landlord Responsibility | Corporate Guarantee
  • Trophy Atlantic Boulevard Location | 43,000 Vehicles Per Day Exposure
  • Recent 10 Year Lease Extension | Strong Commitment to the Site
  • Attractive 12% Increases Every Five Years
  • Colleges and Universities Nearby Include Bethesda College of Health Sciences, Cambridge College of Healthcare, and Everglades University
  • Florida is a No Income Tax State

Exclusively Listed By

Financing By

Restaurant

Checkers 10 Year NNN Lease Trophy Location

Listing Price: $2,526,315

Cap Rate
4.75%
Tenant Name
Checkers
Years Remaining On Lease
10.1
Gross SF
724
Guarantor
Corporate Guarantee
Rentable SF
724
Price/Gross SF
$3,489.39
Lease Type
Absolute Net
Rent Per Square Feet
$165.75

Investment Highlights

  • 10 Year Absolute NNN Ground Lease | Zero Landlord Responsibility | Corporate Guarantee
  • Trophy Atlantic Boulevard Location | 43,000 Vehicles Per Day Exposure
  • Recent 10 Year Lease Extension | Strong Commitment to the Site
  • Attractive 12% Increases Every Five Years
  • Colleges and Universities Nearby Include Bethesda College of Health Sciences, Cambridge College of Healthcare, and Everglades University
  • Florida is a No Income Tax State

Investment Overview

Marcus & Millichap is pleased to present for sale this Checkers Restaurant with Drive Thru located at 450 W. Atlantic Avenue in Delray Beach, Florida. Delray Beach is a city in Palm Beach County, Florida with a population of 66,846. It located in South Florida 52 miles north of Miami and is in the Miami Metropolitan Area. Major employers in the area include Delray Medical Center, Annco Services, Shullman Technology Group, Schumacher Automotive Group and Ed Morse Delray Toyota. Situated on W Atlantic Boulevard, a main thoroughfare in Delray Beach, this restaurant has exposure to more than 43,000 Vehicles Per Day. Numerous apartment complexes surround this Checkers Property including South of Atlantic Luxury Apartments, Caspian Delray Beach Apartments, Village at Delray Apartments, Cortland Delray Apartments, Village Square Circle, Congress Grove Apartments and Waters Edge Apartments. Colleges and universities nearby include Bethesda College of Health Sciences, Cambridge College of Healthcare, and Everglades University. Checkers Drive-In Restaurants, Inc. is a chain of double drive-thru restaurants in the United States. The company operates Checkers and Rally’s restaurants in 28 states and the District of Columbia. They specialize in hamburgers, hot dogs, French fries and milkshakes. As of the year 2022, there were 569 Checkers locations and 309 Rally’s locations with annual US revenue of $521 Million.

Exclusively Listed By

Financing By

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