Restaurant

Pollo Tropical

3134 Tampa Road, Oldsmar, FL 34677

Listing Price: $1,885,718

Cap Rate
5.25%
Tenant Name
Pollo Tropical
Guarantor
Corporate Guarantee
Rentable SF
3,742
Lease Type
Absolute Net
Rent Per Square Feet
$264.56

Investment Overview

Marcus & Millichap is pleased to present an opportunity to purchase the fee simple interest in a Pollo Tropical with Drive-Thru located at 3134 Tampa Road, Oldsmar, FL. The property contains 3,742 SF of net leasable area and is situated on 0.71 acres. This absolute triple-net leased Pollo Tropical is subject to a 20-year sale-lease-back with 1.50% annual rent increases. The City of Oldsmar is part of Tampa’s MSA – Florida’s second most populous MSA. It commonly referred to as the “Tampa Bay Area” and is located on the west coast of Florida. Key drivers of the city’s economy are tourism, retail, healthcare, insurance, and shipping by air and sea. Fiesta Restaurant Group (NASDAQ: FRGI) is a Dallas, Texas-based restaurant chain, primarily owning Taco Cabana locations in Texas and Pollo Tropical locations in Florida. Fiesta employs over 10,000 people and had a 2019 revenue of $661 million. The property’s high-visibility location, surrounding demographics and sale-lease-back structure are all considered to be highly advantageous.

Investment Highlights

  • Outparcel to Woodlands Square, a Regional Shopping Center
  • Anchored by AMC Theaters, Marshalls, Bealls and PetSmart
  • Minutes From Busch Gardens – 4 Million Visitors Annually
  • Frontage on Tampa Road – 19,000 Vehicles per Day
  • Tampa Bay is the Second-Largest MSA in Florida
  • Absolute Triple-Net (NNN) Lease – Zero Landlord Responsibility
  • 20 Year Lease Term Commencing Upon Close of Escrow
  • 1.5% Annual Rent Increases – Strong Hedge Against Inflation

Exclusively Listed By

Listing Price: $1,885,718

Cap Rate
5.25%
Tenant Name
Pollo Tropical
Guarantor
Corporate Guarantee
Rentable SF
3,742
Lease Type
Absolute Net
Rent Per Square Feet
$264.56

Investment Highlights

  • Outparcel to Woodlands Square, a Regional Shopping Center
  • Anchored by AMC Theaters, Marshalls, Bealls and PetSmart
  • Minutes From Busch Gardens – 4 Million Visitors Annually
  • Frontage on Tampa Road – 19,000 Vehicles per Day
  • Tampa Bay is the Second-Largest MSA in Florida
  • Absolute Triple-Net (NNN) Lease – Zero Landlord Responsibility
  • 20 Year Lease Term Commencing Upon Close of Escrow
  • 1.5% Annual Rent Increases – Strong Hedge Against Inflation

Investment Overview

Marcus & Millichap is pleased to present an opportunity to purchase the fee simple interest in a Pollo Tropical with Drive-Thru located at 3134 Tampa Road, Oldsmar, FL. The property contains 3,742 SF of net leasable area and is situated on 0.71 acres. This absolute triple-net leased Pollo Tropical is subject to a 20-year sale-lease-back with 1.50% annual rent increases. The City of Oldsmar is part of Tampa’s MSA – Florida’s second most populous MSA. It commonly referred to as the “Tampa Bay Area” and is located on the west coast of Florida. Key drivers of the city’s economy are tourism, retail, healthcare, insurance, and shipping by air and sea. Fiesta Restaurant Group (NASDAQ: FRGI) is a Dallas, Texas-based restaurant chain, primarily owning Taco Cabana locations in Texas and Pollo Tropical locations in Florida. Fiesta employs over 10,000 people and had a 2019 revenue of $661 million. The property’s high-visibility location, surrounding demographics and sale-lease-back structure are all considered to be highly advantageous.

Exclusively Listed By

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