Restaurant

Daytona Ocean Front 99 Year Net Leased Land

471 S Atlantic Ave, Daytona Beach, FL 32118

Listing Price: $12,500,000

Cap Rate
4.00%
Tenant Name
Landshark Bar and Grill
Years Remaining On Lease
98.80
Gross SF
12,044
Guarantor
Limited Corporate Guarantee
Rentable SF
12,044
Price/Gross SF
$1,037.86
Lease Type
Ground Lease
Rent Per Square Feet
$41.51

Investment Overview

Marcus & Millichap is proud to market the Daytona Beach 99 Year Ground Leased Fee land. This ground lease currently generates an annual net operating income of $500,000 and is guaranteed by the entity that owns the 12,044 SF of restaurant space that sits on the land. It is estimated that the buildings which sit on the subject property generate an annual NOI of roughly $1,000,000 based on the current cash flow being collected by the Ground Lessee and the future Tiki-Hut development, thereby resulting in virtually no risk of tenant default.

Investment Highlights

  • 99 year base term ground lease with no management responsibilities for Buyer
  • 10 percent base rental increases every 5 years
  • Rent is almost 50% of current subtenant net income

Exclusively Listed By

Restaurant

Daytona Ocean Front 99 Year Net Leased Land

Listing Price: $12,500,000

Cap Rate
4.00%
Tenant Name
Landshark Bar and Grill
Years Remaining On Lease
98.80
Gross SF
12,044
Guarantor
Limited Corporate Guarantee
Rentable SF
12,044
Price/Gross SF
$1,037.86
Lease Type
Ground Lease
Rent Per Square Feet
$41.51

Investment Highlights

  • 99 year base term ground lease with no management responsibilities for Buyer
  • 10 percent base rental increases every 5 years
  • Rent is almost 50% of current subtenant net income

Investment Overview

Marcus & Millichap is proud to market the Daytona Beach 99 Year Ground Leased Fee land. This ground lease currently generates an annual net operating income of $500,000 and is guaranteed by the entity that owns the 12,044 SF of restaurant space that sits on the land. It is estimated that the buildings which sit on the subject property generate an annual NOI of roughly $1,000,000 based on the current cash flow being collected by the Ground Lessee and the future Tiki-Hut development, thereby resulting in virtually no risk of tenant default.

Exclusively Listed By

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